LTC Appoints Wendy Simpson Executive Chairman of Board of Directors; Promotes Pam Kessler and Clint Malin to Co-Chief Executive Officers, and Cece Chikhale to Chief Financial Officer
LTC Properties announced key leadership changes effective December 31, 2024, as part of its succession plan. Wendy Simpson, who has served as CEO since 2007, will become Executive Chairman of the Board. Pam Kessler and Clint Malin, both current Co-Presidents, have been promoted to Co-Chief Executive Officers. Cece Chikhale, currently Chief Accounting Officer, will assume the role of Chief Financial Officer.
The company is actively searching for a new Chief Investment Officer to succeed Malin, who will maintain this function until a replacement is found. These appointments recognize the executives' long-term contributions to LTC and align with the company's strategy for a new growth phase through ongoing investments and the addition of a RIDEA structure to its business.
LTC Properties ha annunciato cambiamenti chiave nella leadership con effetto dal 31 dicembre 2024, come parte del suo piano di successione. Wendy Simpson, che è stata CEO dal 2007, diventerà Presidente Esecutivo del Consiglio. Pam Kessler e Clint Malin, attuali Co-Presidenti, sono stati promossi a Co-Amministratori Delegati. Cece Chikhale, attuale Chief Accounting Officer, assumerà il ruolo di Chief Financial Officer.
L'azienda sta attivamente cercando un nuovo Chief Investment Officer per succedere a Malin, che manterrà questa funzione fino a quando non verrà trovato un sostituto. Queste nomine riconoscono i contributi a lungo termine degli dirigenti a LTC e si allineano alla strategia dell'azienda per una nuova fase di crescita attraverso investimenti continui e l'aggiunta di una struttura RIDEA nel suo business.
LTC Properties anunció cambios clave en el liderazgo con efecto a partir del 31 de diciembre de 2024, como parte de su plan de sucesión. Wendy Simpson, quien ha sido CEO desde 2007, se convertirá en Presidenta Ejecutiva del Consejo. Pam Kessler y Clint Malin, ambos actuales Co-Presidentes, han sido ascendidos a Co-Directores Ejecutivos. Cece Chikhale, actual Directora de Contabilidad, asumirá el cargo de Directora Financiera.
La empresa está buscando activamente un nuevo Director de Inversiones para suceder a Malin, quien mantendrá esta función hasta que se encuentre un reemplazo. Estos nombramientos reconocen las contribuciones a largo plazo de los ejecutivos a LTC y se alinean con la estrategia de la empresa para una nueva fase de crecimiento a través de inversiones continuas y la adición de una estructura RIDEA a su negocio.
LTC Properties는 2024년 12월 31일자로 승계 계획의 일환으로 주요 리더십 변화를 발표했습니다. Wendy Simpson은 2007년부터 CEO로 재직해 왔으며, 이사회 의장으로 임명될 것입니다. 현재 공동 사장인 Pam Kessler와 Clint Malin이 공동 CEO로 승진했습니다. 현재 최고 회계 책임자인 Cece Chikhale가 최고 재무 책임자를 맡게 됩니다.
회사는 Malin을 대신할 새로운 최고 투자 책임자를 적극적으로 찾고 있으며, Malin은 후임자가 정해질 때까지 이 역할을 유지할 것입니다. 이러한 임명은 LTC에 대한 경영진들의 장기적인 기여를 인정하며, 지속적인 투자와 함께 비즈니스에 RIDEA 구조를 추가하여 새로운 성장 단계로 나아가기 위한 회사의 전략과 일치합니다.
LTC Properties a annoncé des changements clés dans sa direction, effectifs à partir du 31 décembre 2024, dans le cadre de son plan de succession. Wendy Simpson, qui est PDG depuis 2007, deviendra Présidente Exécutive du Conseil. Pam Kessler et Clint Malin, actuellement Co-Présidents, ont été promus Co-Directeurs Généraux. Cece Chikhale, actuelle Directrice Comptable, assumera le rôle de Directrice Financière.
L'entreprise est actuellement à la recherche d'un nouveau Directeur des Investissements pour succéder à Malin, qui conservera cette fonction jusqu'à ce qu'un remplaçant soit trouvé. Ces nominations reconnaissent les contributions à long terme des dirigeants à LTC et s'alignent sur la stratégie de l'entreprise pour une nouvelle phase de croissance grâce à des investissements continus et à l'ajout d'une structure RIDEA à son activité.
LTC Properties hat wesentliche Führungswechsel mit Wirkung zum 31. Dezember 2024 im Rahmen seines Nachfolgeplans angekündigt. Wendy Simpson, die seit 2007 CEO ist, wird Executive Chairman des Boards. Pam Kessler und Clint Malin, die derzeitigen Co-Präsidenten, wurden zu Co-Chief Executive Officers befördert. Cece Chikhale, derzeit Chief Accounting Officer, wird die Rolle des Chief Financial Officers übernehmen.
Das Unternehmen sucht aktiv einen neuen Chief Investment Officer, um Malin nachzufolgen, der diese Funktion bis zur Findung eines Nachfolgers weiterhin ausüben wird. Diese Ernennungen würdigen die langfristigen Beiträge der Führungskräfte zu LTC und stimmen mit der Strategie des Unternehmens für eine neue Wachstumsphase durch fortlaufende Investitionen und die Ergänzung einer RIDEA- Struktur im Geschäft überein.
- Leadership transition maintains continuity with experienced internal executives
- Strategic move towards new growth phase including RIDEA structure expansion
- All promoted executives have extensive company experience (15-20+ years)
- Need to fill Chief Investment Officer position creates temporary leadership gap
- Multiple concurrent leadership changes might create short-term operational adjustments
The Company said it is conducting a search for a new Chief Investment Officer to succeed Clint Malin, who will retain that function until a successor is named.
Executive Chairman: Wendy Simpson, 75, has been LTC’s Chief Executive Officer since 2007, after joining the Company in 2000. Throughout her tenure with the Company, Simpson served as Vice Chairman, President, Chief Operating Officer, Chief Financial Officer and Treasurer. Prior to joining LTC, she held executive positions in public companies that owned acute and long-term acute care hospitals, psychiatric hospitals and home health services.
Co-Chief Executive Officer: Pam Kessler, 58, has been LTC’s Co-President since 2020, and also served as Chief Financial Officer since 2007. She joined the Company in 2000 as Controller. Before that, Kessler was the Corporate Controller for a privately held commercial and multifamily real estate developer. She also was the Director of Financial Reporting for Irvine Apartment Communities, an apartment REIT. Additionally, Kessler served as Assistant Controller of the Inland Empire division of KB Home, a publicly traded homebuilder. Kessler retains her role as Co-President.
Co-Chief Executive Officer: Clint Malin, 52, has been LTC’s Co-President since 2020, and has served as Chief Investment Officer since 2004 when he joined the Company. Prior to that, Malin was the Vice President of Corporate Real Estate for Sun Healthcare Group, Inc. (now Genesis HealthCare). Malin retains his role as Co-President.
Chief Financial Officer: Cece Chikhale, 48, has been LTC’s Chief Accounting Officer since 2020 and has been Controller and Treasurer since 2007. She joined the Company in 2002 as an Accounting Manager and also was Assistant Controller and Assistant Treasurer. Chikhale retains her roles as Principal Accounting Officer and Treasurer.
“It has been my greatest pleasure serving as LTC’s CEO for the last 17 years, and with the full support of our Board of Directors, I am excited to continue guiding and mentoring the Company as its Executive Chairman,” said Simpson. “Pam, Clint and Cece all are longtime proven executives with LTC, and are assuming expanded responsibilities in recognition of the significant contributions they have collectively made to LTC over the last two decades. Their combined experience will serve us well as LTC enters a new phase of growth through ongoing investments and the addition of a RIDEA structure to our business. After working together with this very talented team for more than 20 years, I believe LTC is in the right hands to deliver increasing value to all of our stakeholders.”
About LTC Properties
LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC’s investment portfolio includes 189 properties in 25 states with 29 operating partners. Based on its gross real estate investments, LTC’s investment portfolio is comprised of approximately
Forward Looking Statements
This press release includes statements that are not purely historical and are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Company’s expectations, beliefs, intentions or strategies regarding the future. All statements other than historical facts contained in this press release are forward looking statements. These forward-looking statements involve a number of risks and uncertainties. All forward looking statements included in this press release are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such forward looking statements. Although the Company’s management believes that the assumptions and expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements.
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For more information contact:
Mandi Hogan
(805) 981-8655
Source: LTC Properties, Inc.
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