Highwoods Properties Inc. has announced the promotion of Ted Klinck to president and chief operating officer in a statement released Friday.

Ed Fritsch, 59, current chief executive officer and founder of the Raleigh-based real estate investment trust, will maintain his current position as Highwoods thinks through its succession planning.

Klinck, 52, has served in the executive vice president and chief operating officer roles at Highwoods since late 2015.

“Ted and I have obviously worked closely together since he joined Highwoods in 2012,” said Fritsch in a statement. “His vision, tenacity and execution prowess have been instrumental to our successful track record. As part of his position as president, Ted will assume a broader role with regard to corporate and strategic issues and strengthening relationships with key business partners.”

Klinck was hired by Highwoods in 2012 as a senior vice president and chief investment officer, following time in executive and management roles for Goddard Investment Group and Morgan Stanley.

“I am humbled,” said Klinck in a statement, “by the confidence demonstrated by Ed and the board in giving me this expanded leadership role.”

Highwoods shares closed Friday at $43.37, up 35 cents.