🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Ventas expands board with two new directors in cooperation with Land & Buildings

EditorNatashya Angelica
Published 05/03/2024, 03:22 am
© Reuters.

CHICAGO - Ventas, Inc. (NYSE: NYSE:VTR), an S&P 500 real estate investment trust, has announced the appointment of Theodore Bigman and Joe V. Rodriguez, Jr. to its Board of Directors. The appointments are part of a mutual cooperation agreement with Land & Buildings Investment Management LLC, a shareholder of Ventas.

Theodore Bigman, founder and Chief Investment Officer of Bigman Holdings, brings extensive investing and capital markets experience to the board, having previously held roles at Morgan Stanley (NYSE:MS) Investment Management (MSIM). Joe V. Rodriguez, Jr., a seasoned real estate investor with three decades of experience, was a Founding Partner and Chief Investment Officer at Invesco Real Estate.

Debra A. Cafaro, Chairman and CEO of Ventas, expressed her pleasure in welcoming the two new board members and emphasized their significant REIT investment experience. Melody Barnes, Chair of the Board’s Nominating, Governance and Corporate Responsibility Committee, highlighted the ongoing board refreshment to enhance shareholder value.

Jonathan Litt, Founder & CIO of Land & Buildings, commended the appointments as beneficial to the company’s strategy execution. As part of the agreement, Land & Buildings will support the Board's director nominees at the 2024 Annual Meeting of Stockholders and has agreed to customary standstill and voting provisions.

With these appointments, Ventas’s Board will temporarily expand to 13 directors, 12 of whom are independent. Over half of the board members identify as diverse by gender or ethnicity. Bigman will join the Investment Committee, and Rodriguez will join the Nominating, Governance and Corporate Responsibility Committee.

The full details of the cooperation agreement will be filed with the U.S. Securities and Exchange Commission (SEC) on a Form 8-K.

Ventas is focused on environments that benefit an aging population, with approximately 1,400 properties including senior housing communities, outpatient medical buildings, research centers, and healthcare facilities in North America and the United Kingdom.

The company aims for strong, sustainable shareholder returns through its operational expertise, data-driven insights, and financial strength.

This news is based on a press release statement, and it should be noted that forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual events to differ materially from those expressed or implied.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.