NASHVILLE, Tenn., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Healthcare Realty Trust Incorporated (NYSE:HR) today announced that its Board of Directors has elected current director Tom Bohjalian as Independent Chair of the Board. It also announced the appointment of three new independent directors with deep industry and leadership experience: David Henry, Glenn Rufrano, and Don Wood.
"We are pleased to have reached an agreement with Starboard and appreciate their collaborative engagement, valuable input and shared commitment to enhancing performance and driving value for our shareholders," said Mr. Bohjalian. "David, Glenn and Don bring meaningful experience and fresh perspectives to the Board."
Jeffrey Smith, Chief Executive Officer and Chief Investment Officer of Starboard expressed support for these changes:
"This outcome is a positive step forward in supporting the Board's efforts in positioning Healthcare Realty for consistent execution."
New Appointments
- David Henry: Retired Vice Chairman and CEO of Kimco Realty Corporation. He served on several boards including Tanger Outlet Centers.
- Glenn Rufrano: Over 35 years in real estate leadership roles; currently Executive Chairman of PREIT.
- Don Wood: Joined Federal Realty in 1998; became CEO in 2003 after serving as CFO and President.
The Company engaged Ferguson Partners to assist in the search process for a new president and CEO.
Retirements
John Knox Singleton, John V. Abbott, and Vicki U. Booth have retired from the Board of Directors.
"On behalf of the entire Board, I would like to thank Knox, John and Vicki for their many years of dedicated leadership," continued Mr. Bohjalian.
Pursuant Agreement
Pursuant to the Agreement with Starboard Value LP, there is a customary standstill agreement expiring before the Company's 2026 Annual Meeting of Stockholders.
Advisors
JP Morgan is serving as exclusive financial advisor to Healthcare Realty Trust Incorporated regarding this cooperation agreement while Latham & Watkins LLP alongside Holland & Knight LLP are providing legal counsel services related thereto too!
About Healthcare Realty
Healthcare Reality represents one giant amongst others within REIT market space specializing exclusively towards owning/operating medical outpatient buildings primarily situated near hospital campuses throughout America! They continue growing via property acquisitions/development strategies resulting now holding nearly six hundred seventy-five properties covering approximately forty million square feet across fifteen growth markets nationwide!
In addition historical info present herein certain statements may involve risks/uncertainties discussed SEC filings by HR including annual report ending December thirty-first last year under risk factors heading quarterly reports filed thereafter other such documents available publicly online through official channels only please note company reserves right update forward-looking statements whenever necessary future reference purposes solely...