Los Angeles office landlord Maguire Properties Inc. late Tuesday said it had changed its name to MPG Office Trust Inc., thus erasing the name of its founder.

Robert F. Maguire III founded the company and continues to be a major shareholder, but his relations with the current executive team continue to be strained. Maguire left company two years ago after a failed effort to take it private, and last month criticized current management in a letter to the board.

The company said its directors approved the change Friday, The name change is effective immediately and trading under the new name will start May 17 with its MPG ticker symbol remaining.

The company earlier reported a first-quarter profit, enabled largely by forgiveness of a $49 million debt incurred during the company’s growth strategy before the downturn in the commercial real estate market.

On Monday, Maguire said total funds from operations of $35.6 million (72 cents per share), compared with a loss of $30.8 million (-64 cents) a share a year earlier. Revenue fell 2 percent to less than $112 million. FFO is an industry metric that strips out the effects of depreciation and other factors from earnings, which can distort results.

Shares were down 12 cents, or 3.4 percent, to $3.41 in Wednesday midday trading on the New York Stock Exchange.