Matthew Sonsini, currently the company's chief investment officer, has been promoted to CEO. The company’s current CEO, John Michael Sobrato, will be chairman of the board while his father and company founder, John Albert Sobrato, becomes chairman emeritus. It wasn't immediately clear how quickly the transitions will happen. He originally joined the organization in 2008 as executive vice president, when he left the Palo Alto-based law firm Wilson Sonsini Goodrich & Rosati, where he'd worked for his father, Larry Sonsini, and had been a partner for seven years. He has in the past also served as chief operating officer for the Sobrato Organization and helped lead the company's non-real estate investment division, Sobrato Capital. Notably, he is also married to Lisa Sobrato Sonsini, John Albert’s youngest daughter, who co-founded the Sobrato Family Foundation, a major philanthropic force in Silicon Valley.