Kamau Witherspoon Appointed To board Of Directors Of National Retail Properties, Inc.

Rhea-AI Summary

National Retail Properties, Inc. (NYSE: NNN) announced the appointment of Kamau Witherspoon to its Board of Directors. Witherspoon, the Senior Vice President of Operations at Target, brings extensive experience from significant roles in Target, Yum Brands, and the U.S. Navy. His insights are expected to enhance NNN's business strategy and execution. As of September 30, 2021, NNN owned 3,195 properties across 48 states, with a total gross leasable area of approximately 33.0 million square feet and a weighted average remaining lease term of 10.6 years.

Positive

• Appointment of Kamau Witherspoon expected to strengthen the Board.
• Witherspoon's extensive retail experience may enhance business strategy.

Negative

• None.

ORLANDO, Fla., Nov. 18, 2021 /PRNewswire/ -- National Retail Properties, Inc. (NYSE: NNN), a real estate investment trust, today announced that Kamau Witherspoon was appointed to the Board of Directors.

"We are delighted that Kamau Witherspoon has agreed to join the Board of Directors of National Retail Properties," said Jay Whitehurst, President and Chief Executive Officer.  "Drawing on his experiences with Target, Yum Brands and the U.S. Navy, Kamau will bring valuable insights to our business strategy and execution. I look forward to working with Kamau as we continue to grow the company."

"I am pleased to join Jay in welcoming Kamau Witherspoon to the Board of Directors of National Retail Properties.  Kamau's talents and perspective will further strengthen our Board as we look ahead to NNN's continued growth and success," said Steve Cosler, Chairman.

Mr. Witherspoon is a Senior Vice President of Operations at Target Corporation, serving in that role since 2018.  He previously served in various roles at Target Corporation from 2007 to 2015, including Senior Director of Store Operations.  Between 2015 and 2018, Mr. Witherspoon was Chief Restaurant Excellence Officer, KFC U.S., with Yum! Brands, Inc., and Senior Vice President of Operational Performance & Readiness at UnitedHealth Group.  Mr. Witherspoon served in the United States Navy from 1996 to 2007, rising to the rank of Lieutenant Commander.  He is a graduate of Morehouse College, and received his MBA from Old Dominion University.

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  As of September 30, 2021, the company owned 3,195 properties in 48 states with a gross leasable area of approximately 33.0 million square feet and with a weighted average remaining lease term of 10.6 years. For more information on the company, visit www.nnnreit.com.

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SOURCE National Retail Properties, Inc.

FAQ

Who is Kamau Witherspoon in relation to National Retail Properties?

Kamau Witherspoon has been appointed to the Board of Directors of National Retail Properties, bringing valuable insights from his experience in retail operations.

What is Kamau Witherspoon's background?

Witherspoon is the Senior Vice President of Operations at Target and has held significant roles at Yum Brands and UnitedHealth Group, along with serving in the U.S. Navy.

What impact might Kamau Witherspoon's appointment have on NNN?

Witherspoon's appointment is anticipated to bring fresh perspectives and enhance the company's business strategy as it continues to grow.

How many properties does National Retail Properties own?

As of September 30, 2021, National Retail Properties owned 3,195 properties across 48 states.

What is the total gross leasable area of NNN's properties?

The total gross leasable area of National Retail Properties is approximately 33.0 million square feet.