Manufactured Housing Properties Inc. Announces Changes to Senior Leadership Team

Rhea-AI Summary

Manufactured Housing Properties Inc. (OTC:MHPC) has announced significant changes in its senior leadership team, aimed at bolstering long-term growth. Effective immediately, Jay W. Wardlaw has been appointed President, bringing extensive finance experience from Regions Bank and Bank of America. Michael Anise, previously CFO, is now Chief Operating Officer, focusing on operational growth and acquisitions. Chelsea H. Gee has taken over as CFO, having been VP of Finance since January 2021. These strategic shifts highlight the company's commitment to diversifying leadership and enhancing profitability.

Positive

• Appointment of Jay W. Wardlaw as President, enhancing leadership with extensive finance experience.
• Michael Anise now focuses on operations, likely improving efficiency and growth through acquisitions.
• Chelsea H. Gee's promotion as CFO indicates continuity in financial strategy and leadership.

Negative

• Michael Anise's transition from CFO may raise concerns about financial continuity and oversight.

Charlotte, North Carolina, April 14, 2022 (GLOBE NEWSWIRE) -- Manufactured Housing Properties Inc. (OTC:MHPC), an operator of manufactured housing communities, announced several changes to its senior leadership team today. The changes reflect a thoughtful and strategic approach to long-term growth for the company.

“I’m proud of the leadership talent that we are developing at MHPC,” said Raymond Gee, Chairman of the Board and Chief Executive Officer of Manufactured Housing Properties Inc. (“MHPC”) “Over the last five years, we have developed the depth and diversity in our executive team to continue our growth and achieve strong profitability.”

Jay W. Wardlaw has been appointed to the position of President and has been elected to serve as a member of the board by the company’s board of directors, effective immediately. Jay adds his extensive finance experience within the real estate sector to the team, including five years as a managing director at Regions Banks Real Estate Capital Markets group where he marketed CMBS, FNMA, HUD, Affordable Housing, Credit Tenant Lease and Loan Placement products to Regions Bank clients, as well as fourteen years working within Bank of America’s structured real estate finance group. In addition to banking experience, Jay has six years of experience as a financial consultant with KPMG and PricewaterhouseCoopers and holds FINRA Series 63, 7 and 79 certifications.

Michael Anise, who has been with MHPC since September 2017, has been appointed to the position of Chief Operating Officer and has resigned from his former positions as Chief Financial Officer and President, effective immediately. Michael will focus his attention on operations as the company continues to grow its portfolio through acquisitions. He will also maintain his role as a vital member of the company’s board of directors.

Chelsea H. Gee has assumed the position of Chief Financial Officer, effective immediately. Chelsea has served as the company’s Vice President of Finance since January 2021.

About Manufactured Housing Properties Inc.

Manufactured Housing Properties Inc. together with its affiliates, acquires, owns, and operates manufactured housing communities. The Company focuses on acquiring and operating value-add manufactured home communities in high growth markets.

Contact:
Jay Wardlaw
President
(980) 273-1702 ext. 251

Forward Looking Statements

This press release contains statements that do not relate to historical facts, but are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can generally (although not always) be identified by their use of terms and phrases such as anticipate, appear, believe, continue, could, estimate, expect, indicate, intend, may, plan, possible, predict, project, pursue, will, would and other similar terms and phrases, as well as the use of the future tense. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of MHPC, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our annual and quarterly reports under the heading “Risk Factors” as filed with the SEC. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements in this press release speak only as of the date hereof. Unless otherwise required by law, we undertake no obligation to publicly update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

FAQ

What changes were made to the leadership team of MHPC?

MHPC appointed Jay W. Wardlaw as President, Michael Anise as COO, and Chelsea H. Gee as CFO.

Why did MHPC change its CFO?

Chelsea H. Gee became CFO to ensure continuity in financial leadership as the company grows.

What is the impact of Jay W. Wardlaw's experience on MHPC?

His extensive finance experience in real estate is expected to strengthen the company's financial strategy.

Who is now responsible for operations at MHPC?

Michael Anise, as COO, will focus on operations and managing the company's growth through acquisitions.