The longtime leader of Browning Investments Inc. is stepping down from his positions as president and CEO and will be replaced by a former executive of the company.
Michael G. Browning, who has led the Indianapolis-based real estate development and construction firm since 1981, will maintain his role as chairman of the board, the company announced Tuesday.
Browning’s new president and CEO, effective Aug. 1, is John F. Hirschman, a real estate attorney at Faegre Baker Daniels LLP. He served as Browning’s director of development from 2005 to 2012.
While at Browning, Hirschman was responsible for managing the company’s joint venture relationships with Duke Realty Corp. and Prologis Inc., and oversaw the development of several business parks, in addition to industrial, office and mixed-use facilities.
With 2.2 million square feet completed or under construction locally, Browning ranks as the Indianapolis area’s fifth-largest commercial real estate developer, according to the latest IBJ research.
Michael Browning is also chairman of the board of Visit Indy, and a board member of Duke Energy Corp., the Indiana Sports Corp. and the Indianapolis Indians.