Ltc Properties Leader Simpson Steps Back As Company Names Two New Co-ceos
LTC Properties (NYSE: LTC) CEO Wendy Simpson is stepping back from her role as the company’s top leader, and the company’s two co-presidents are slated to take the reins as co-CEOs.
On Monday, the Westlake Village, California-based real estate investment trust (REIT) announced it had appointed Pam Kessler and Clint Malin to the roles of co-CEO. The two leaders are also keeping their current titles as co-presidents of the company.
Simpson is stepping back from her role as CEO to become executive chairman of the LTC Properties board of directors. The company also named Cece Chikhale to the role of CFO.
The appointments are part of a succession plan from LTC Properties and are slated to go into effect Dec. 31.
Simpson, 75, joined LTC in 2000 and has led it since 2007. Her roles over the years have included vice Chairman, president, CFO, treasurer and COO.
Kessler and Malin ascended to their current roles as co-presidents in 2020. Kessler first joined the company in 2000 as controller, while Malin joined LTC in 2004 as chief investment officer.
“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,” Simpson noted in a press release about the appointment. “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.”
This is a developing story and will be updated.
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