JBG Smith Properties President David Paul to step down

David Paul has been president and COO of Bethesda-based JBG Smith since its formation.

JBG Smith Properties President David Paul to step down

David Paul, one of the leaders behind JBG Smith Properties' ascendancy in Greater Washington real estate, is stepping down. He will continue to serve as a senior adviser to the company until Feb. 3, according to Securities and Exchange Commission filings. "I am thankful and humbled to have worked with so many talented people that have taught me so much. He is to be retained to "provide strategic advice to us regarding transition of his responsibilities and duties" for another six months after Feb. 3, for a monthly fee of $10,000, with time-based equity awards that he received in 2018 continuing to vest during the transition period. In that time, he helped the already prolific developer grow its services through acquisitions, such as leasing and asset management firm JBG Rosenfeld Retail in 2015, while also raising a series of successful funds -- JBG had begun doing that in earnest a few years before. Paul was named president and COO as a part of the melding of the leadership of the two companies that elevated fellow JBG leader Matt Kelly to CEO. And then the company landed its biggest win -- as the developer for Amazon.com Inc.'s (NASDAQ: AMZN) second headquarters in Crystal City. The company's efforts since then have largely revolved around that Arlington development, along with an accompanying buildout of Virginia Tech's $1 billion innovation campus in Alexandria, as it shifts much of its other business to multifamily holdings. He will receive a full compensation package for 2022, according to the separation agreement.