Denise Brooks-Williams and Michael A. Coke Nominated for Election to Broadstone Net Lease’s Board of Directors
The Board of Directors of Broadstone Net Lease (NYSE: BNL) has nominated Denise Brooks-Williams and Michael A. Coke for election at the upcoming Annual Meeting of Stockholders in May 2021. Brooks-Williams has extensive experience in the healthcare sector, currently serving as CEO at Henry Ford Health System. Coke, co-founder of Terreno Realty, brings significant expertise in industrial real estate. Their appointments aim to enhance the Board's capabilities in core property types, aligning with BNL's growth strategy. The Board will consist of nine members if all nominees are elected, with seven being independent.
- Denise Brooks-Williams and Michael A. Coke bring extensive industry experience, which may strengthen the Board's effectiveness.
- The upcoming Board composition will include seven independent members, enhancing governance.
- The retirement of Amy L. Tait may create gaps in leadership continuity.
- Potential risks associated with the COVID-19 pandemic could impact tenant financial health and property acquisitions.
ROCHESTER, N.Y., March 25, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of Broadstone Net Lease, Inc. (NYSE: BNL) today announced that it has nominated Denise Brooks-Williams and Michael A. Coke for election to the Board at the Company’s Annual Meeting of Stockholders, which is expected to be held in May 2021.
Ms. Brooks-Williams currently serves as the Senior Vice President and CEO, North Market, for Henry Ford Health System, Inc., a leading not-for-profit healthcare and medical services provider, and has thirty years’ experience in the healthcare industry. Mr. Coke is the Co-Founder and current President of Terreno Realty Corp. (NYSE: TRNO), a publicly traded REIT focusing on infill industrial real estate properties in six major U.S. coastal markets, and has over thirty years’ experience in the industrial real estate sector, as well as significant experience as a director and executive of publicly traded REITs.
“We look forward to welcoming both Denise and Mike to the Board of Directors of Broadstone Net Lease. Each nominee brings a wealth of experience in their respective industries,” stated Chris Czarnecki, BNL’s Chief Executive Officer. “Healthcare and industrial assets are two of our core property types and currently represent a significant portion of our real estate portfolio and we expect that these property types will continue to be a key strategic focus moving forward. As a result, Denise and Mike’s unique industry knowledge and leadership skills will be immediately additive to our Board of Directors. We look forward to their contributions as we continue to grow Broadstone Net Lease.”
Current directors other than Amy L. Tait (who will be retiring as previously announced) also have been nominated for election to the Board. If all of the director nominees are elected at the Annual Meeting of Stockholders, the Board of Directors will be comprised of nine total members, seven of whom are independent.
About Broadstone Net Lease, Inc.
BNL is an internally managed REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants. The Company utilizes an investment strategy underpinned by strong fundamental credit analysis and prudent real estate underwriting. As of December 31, 2020, BNL’s diversified portfolio consisted of 640 properties in 41 U.S. states and one property in Canada across the industrial, healthcare, restaurant, office, and retail property types, with an aggregate gross asset value of approximately
Forward-Looking Statements
This press release contains “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995, regarding, among other things, statements regarding the upcoming election of directors at the Company’s Annual Meeting of Stockholders. Such forward-looking statements can generally be identified by the Company’s use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “intend,” “anticipate,” “estimate,” “would be,” “believe,” “continue,” or other similar words. Forward-looking statements involve known and unknown risks and uncertainties, which may cause BNL’s actual future results to differ materially from expected results, including, without limitation, risks and uncertainties related to the COVID-19 pandemic and its related impacts on the Company and its tenants, general economic conditions, local real estate conditions, tenant financial health, property acquisitions, and the timing and uncertainty of completing these acquisitions, and uncertainties regarding future distributions to the Company’s stockholders. These and other risks, assumptions, and uncertainties are described in Item 1A “Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on February 25, 2021, which you are encouraged to read, are available on the SEC’s website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. The Company assumes no obligation to, and does not currently intend to, update any forward-looking statements after the date of this press release, whether as a result of new information, future events, changes in assumptions or otherwise.
| Company Contact: Michael Caruso SVP, Corporate Finance & Investor Relations michael.caruso@broadstone.com 585.402.7842 |
FAQ
Who are the new nominees for the Board of Broadstone Net Lease?
What experience do Denise Brooks-Williams and Michael A. Coke bring to Broadstone Net Lease?
When will the Annual Meeting of Stockholders for Broadstone Net Lease be held?
How many members will be on the Board of Broadstone Net Lease if all nominees are elected?
What impact could the COVID-19 pandemic have on Broadstone Net Lease?
