Healthcare Realty Trust Announces CEO Transition
Healthcare Realty Trust (NYSE: HR) announced immediate leadership changes with Todd Meredith stepping down as President, CEO, and board member. The board appointed Constance 'Connie' Moore, current board member and former President and CEO of BRE Properties, as interim President and CEO. The company plans to engage an executive search firm to identify a permanent successor. The board has also reduced its size from 12 to 11 members. Healthcare Realty owns and operates nearly 675 medical outpatient buildings totaling approximately 40 million square feet across 15 growth markets.
Healthcare Realty Trust (NYSE: HR) ha annunciato immediati cambiamenti nella leadership con Todd Meredith che si dimette da Presidente, CEO e membro del consiglio. Il consiglio ha nominato Constance 'Connie' Moore, attuale membro del consiglio e ex Presidente e CEO di BRE Properties, come Presidente e CEO ad interim. L'azienda prevede di ingaggiare una società di ricerca esecutiva per identificare un successore permanente. Il consiglio ha inoltre ridotto la propria dimensione da 12 a 11 membri. Healthcare Realty possiede e gestisce quasi 675 edifici medicali ambulatoriali per un totale di circa 40 milioni di piedi quadrati in 15 mercati in crescita.
Healthcare Realty Trust (NYSE: HR) anunció cambios en el liderazgo de manera inmediata, con Todd Meredith renunciando como Presidente, CEO y miembro de la junta. La junta nombró a Constance 'Connie' Moore, actual miembro de la junta y ex Presidenta y CEO de BRE Properties, como Presidenta y CEO interina. La empresa planea contratar una firma de búsqueda ejecutiva para identificar un sucesor permanente. La junta también ha reducido su tamaño de 12 a 11 miembros. Healthcare Realty posee y opera casi 675 edificios ambulatorios médicos que totalizan aproximadamente 40 millones de pies cuadrados en 15 mercados en crecimiento.
Healthcare Realty Trust (NYSE: HR)은 Todd Meredith가 사장, CEO 및 이사직에서 물러나면서 즉각적인 경영진 변경을 발표했습니다. 이사회는 현 이사이자 이전 BRE Properties의 사장 및 CEO였던 Constance 'Connie' Moore를 임시 사장 및 CEO로 임명했습니다. 회사는 영구적인 후임자를 찾기 위해 임원 검색 회사를 고용할 계획입니다. 이사회 또한 구성원을 12명에서 11명으로 줄였습니다. Healthcare Realty는 15개의 성장 시장 전역에서 약 4천만 평방피트에 해당하는 거의 675개의 의료 외래 진료 건물을 소유하고 운영하고 있습니다.
Healthcare Realty Trust (NYSE: HR) a annoncé des changements immédiats de direction, avec Todd Meredith qui démissionne de ses fonctions de Président, PDG et membre du conseil d'administration. Le conseil a nommé Constance 'Connie' Moore, actuelle membre du conseil et ancienne Présidente et PDG de BRE Properties, comme Présidente et PDG par intérim. L'entreprise prévoit de faire appel à une société de recherche d'exécutifs pour identifier un successeur permanent. Le conseil a également réduit sa taille de 12 à 11 membres. Healthcare Realty possède et exploite près de 675 bâtiments médicaux ambulatoires totalisant environ 40 millions de pieds carrés dans 15 marchés en croissance.
Healthcare Realty Trust (NYSE: HR) kündigte sofortige Änderungen in der Führung an, wobei Todd Meredith als Präsident, CEO und Mitglied des Vorstands zurücktritt. Der Vorstand ernannte Constance 'Connie' Moore, aktuelles Vorstandsmitglied und ehemalige Präsidentin und CEO von BRE Properties, zur kommissarischen Präsidentin und CEO. Das Unternehmen plant, eine Executive-Search-Agentur zu engagieren, um einen dauerhaften Nachfolger zu finden. Der Vorstand hat außerdem seine Größe von 12 auf 11 Mitglieder reduziert. Healthcare Realty besitzt und betreibt fast 675 medizinische Ambulanzgebäude mit einer Gesamtfläche von etwa 40 Millionen Quadratfuß in 15 Wachstumsregionen.
- Portfolio includes significant assets: 675 properties with 40 million square feet in 15 growth markets
- Experienced interim CEO appointed with previous leadership experience as CEO of BRE Properties
- Unexpected immediate CEO departure indicates potential internal challenges
- Leadership uncertainty during transition period could impact strategic execution
Insights
The abrupt CEO departure at Healthcare Realty Trust, a major player in medical outpatient properties with 675 properties and 40 million square feet of space, signals potential strategic shifts ahead. The immediate appointment of Connie Moore, with her proven track record at BRE Properties, suggests the board is prioritizing experienced leadership during this transition.
The timing and immediate nature of Todd Meredith's departure after 23 years, including 8 as CEO, warrants attention. While the company maintains confidence in its strategic direction, such sudden leadership changes often precede significant operational or strategic pivots. The reduction in board size from 12 to 11 members further indicates ongoing corporate governance adjustments.
For investors, this transition period introduces short-term uncertainty but may present opportunities for long-term value creation through fresh strategic perspectives. The company's concentrated presence in 15 growth markets provides a stable foundation during this leadership transition.
Constance Moore appointed interim President and Chief Executive Officer, effective immediately
Todd Meredith to step down
Board intends to engage a leading executive search firm to help identify permanent successor
NASHVILLE, Tenn., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Healthcare Realty Trust Incorporated (NYSE: HR) (“Healthcare Realty” or the “Company”) today announced that Todd Meredith will step down as President and Chief Executive Officer (“CEO”) and as a member of the Board of Directors (“board”), effective immediately. The board has appointed Constance “Connie” Moore, current Healthcare Realty board member and former President and CEO of BRE Properties, Inc., as interim President and CEO, effective immediately.
“On behalf of the board and the Company, I want to thank Todd for his 23 years of dedicated service to Healthcare Realty, eight of which he spent as President and CEO,” said Knox Singleton, Chairman of the Board for Healthcare Realty. “We wish him well in his future endeavors.”
“The Board of Directors of Healthcare Realty is committed to taking actions it believes will drive long-term shareholder value,” said Connie Moore. “I look forward to executing on the Company’s strategic initiatives in my role as interim President and CEO.”
Mr. Singleton added, “The board remains highly confident in our current strategic direction. Our management team has a tremendous depth of individuals with solid abilities to execute against the Company’s strategic plan. As a group, they offer decades of real estate industry investing, management and operational experience. We are confident in the Company’s trajectory and believe now is the time to seek out new leadership to position the Company for its next chapter of growth to drive long-term value for our shareholders.”
The board has formed a committee to oversee the permanent President and CEO search and intends to engage a leading executive search firm to assist in the process. Additionally, the board has reduced its size from 12 to 11 members.
ABOUT HEALTHCARE REALTY TRUST
Healthcare Realty is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As the first and largest REIT to specialize in medical outpatient buildings, Healthcare Realty’s portfolio includes nearly 675 properties totaling approximately 40 million square feet concentrated in 15 growth markets. Additional information regarding the Company can be found at www.healthcarerealty.com.
CONTACTS
Media:
Charlie Koons / Craig Singer
chkoons@brunswickgroup.com
csinger@brunswickgroup.com
Tel: 212.333.3810
Investors:
Ron Hubbard
Vice President, Investor Relations
P: 615.269.8290
Additional information regarding the Company, including this quarter's operations, can be found at www.healthcarerealty.com.
In addition to the historical information contained within, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty Trust, including its Annual Report on Form 10-K for the year ended December 31, 2023 under the heading “Risk Factors,” and as updated in its Quarterly Reports on Form 10-Q filed thereafter. Forward-looking statements represent the Company’s judgment as of the date of this release. The Company disclaims any obligation to update forward-looking statements.
FAQ
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