(business & personal). Mitra promised more personnel announcements. Welltower Inc. (NYSE: WELL) has announced that it has named Shankh Mitra as Chief Executive Officer and he also joined the Board of Directors. Shankh Mitra Biography Mr. Mitra joined Welltower in 2016 and has served as the Company's Chief Investment Officer since 2018, adding the roles of Vice Chair and Chief Operating Offer in. shankh mitra wife. These forward-looking statements speak only as of the date of this press release. Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Public Storage (NYSE:PSA) announced today the appointment of three new members to its Board of Trustees, effective January 1, 2021, including: The Company also announced that three current Trustees, Uri P. Harkham, B. Wayne Hughes, Jr., and Daniel C. Staton, have decided to retire from the Board effective December 31, 2020. In April, we elevated Shankh to the roles of vice chair and COO with the intent that he would ultimately succeed Tom as CEO. Over the past five years, Shankhs investing and operational acumen, complemented by the significant efforts ofTim McHugh,Matt McQueenand a deep bench of senior leaders at Welltower, have put the Company in a position of strength. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Most recently he exercised 1,666 units of WELL stock worth $458,350 on 26 April 2022. Occupancy in Welltowers total seniors housing operating portfolio declined 150 basis points in the third quarter, or 30 basis points through Oct 23. In this role, Bacon will lead the board and partner with Mitra and the leadership team as they execute the companys strategy to create long-term shareholder value. The oldest executive at Welltower Inc. is JeffreyDonahue, 73, who is the Lead Independent Director. We wish them all the best in their future endeavors., The Public Storage Board continuously reviews our Board composition to ensure that we are aligned with the interests of our stakeholders, and todays announcement follows engagement and input from our shareholders, added Mr. Havner. Mr. Bacon is a member of the Board of Directors of Comcast Corporation having previously served as Lead Independent Director and Ally Financial Inc. (703) 894-1805. Mr. Bacon is a member of the Board of Directors of Comcast Corporation having previously served as Lead Independent Director and Ally Financial Inc. As of Oct. 23, 94% of Welltowers senior housing communities reported no confirmed coronavirus cases, 5% reported one to two cases, and 1% have three or more cases. After careful thought and consideration of the Companys current position and opportunities ahead, the Board and I have decided that now is the right time for me to hand the reins to Shankh. The exception right now, he said, is in independent living, where he said people are taking their time to make a decision. Prior to joining Welltower, Mr. Mitra was a Portfolio Manager, Real Estate Securities, at Millennium Management, where he managed an accomplished team of investment professionals responsible for bottom-up underwriting of commercial real estate companies and portfolios, security selection, quantitative portfolio and risk management. I am humbled and honored to serve as CEO of Welltower and to lead this remarkable team as we embark on the next chapter of our journey. The estimated Net Worth of Shankh Mitra is at least $6.21 Million dollars as of 26 April 2022. Regarding sales in the quarter, in September, Welltower sold an 11-property senior housing portfolio in California, Washington and Nevada for $792 million. Shankh Mitra, David Neithercut, and Paul Williams Bring Significant Financial, Real Estate Investing, and Corporate Governance Expertise and Leadership Experience. The most active insiders traders include Timothy J Naughton, R Scott Trumbull, and Philip L Hawkins. Mr. Neithercut is a former Chairman and member of the Advisory Board of Governors of the National Association of Real Estate Investment Trusts (Nareit) and formerly served on the Policy Advisory Board of the Joint Center for Housing Studies at Harvard University. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://welltower.com/october-business-update. from Yale Law School. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments . His vision of reimagining and reinventing the built environment for effective delivery of health care and wellness services has played an instrumental role in transforming Welltower into the worlds largest health and wellness real estate platform. Welltower Announces Initial Closing of Real Estate Joint Venture Welltower to Participate in Nareit's REITworld 2022 Annual Total SHO portfolio occupancy declined approximately 30 basis points (bps) during September to approximately 78.4% as of, Experienced consecutive occupancy increases during the last two weeks of September, marking the first period of back-to-back occupancy gains since the start of the pandemic, Total SHO portfolio occupancy declined approximately 150 basis points during the third quarter from approximately 79.9% to 78.4%, as compared to our outlook of -125-175bps, Triple-Net portfolio: collected 98% of rent due in third quarter of 2020, Outpatient Medical portfolio: 93.6% portfolio occupancy at, Since previous update, announced seniors housing and outpatient medical dispositions totaling over. As the Chief Executive Officer, Chief Investment Officer, and Director of Welltower, the total compensation of Shankh Mitra at Welltower is $5,728,140. He was from Morocco and first went to Mecca at the age on 21 in 1335. This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Other recent leadership moves at the REIT included Kenneth Bacon, executive chairman of Link Logistic Real Estate, being named chairman of the board, succeeding DeRosa in that role, and Philip Hawkins appointment to the board. Executive Vice President - General Counsel & Corporate Secretary . Eight of the companies are still active while the remaining sixteen are now listed as inactive. We have the utmost confidence in Shankhs strategic vision and leadership and believe he is the right person to guide Welltower as it continues to successfully navigate the current environment and pursue the exciting next phase of growth for the Company., Mr. Mitra said, I am humbled and honored to serve as CEO of Welltower and to lead this remarkable team as we embark on the next chapter of our journey. In this role, Mr. Bacon will lead the Board and partner with Mr. Mitra and the leadership team as they execute the Companys strategy to create long-term shareholder value. Previously, he was a member of the Board of Directors of Bentall Kennedy L.P. until its acquisition by Sun Life Financial ofCanadain 2015 and Forest City Realty Trust, Inc. until its acquisition byBrookfieldin 2018. The companies were formed over a thirty-three year period with the most recent being incorporated five months ago in February of 2022. In addition, he makes $5,728,140 as Chief Executive Officer, Chief Investment Officer, and Director at Welltower. Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. Mr. Williams is a seasoned public and private company director with extensive corporate governance expertise and currently serves as President of the National Association of Corporate Directors (NACD) Chicago Chapter. We have the utmost confidence in Shankh's strategic vision and leadership and believe he is the right person to guide Welltower as it continues to successfully navigate the current environment and pursue the exciting next phase of growth for the Company. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments, before assuming his most recent roles. Mr. Williams previously served on the boards of directors of State Auto Financial Corporation, Bob Evans Farms, Inc., and Essendant, Inc. (f/k/a United Stationers Inc.). Shankh Mitra serves as Chief Executive Officer, Chief Investment Officer, Director of the Company. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Prior to forming RailField, he spent 19 years at Fannie Mae, most recently serving as the executive vice president of the multifamily mortgage business fromJuly 2005toMarch 2012. Mr. Bacon joined Welltower's Board of Directors in 2016. Welltower, a real estate investment trust (REIT), owns interests in properties concentrated in major, high growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing, post-acute communities and outpatient medical properties. Given these risks and uncertainties, you should not rely on any forward-looking statements in this press release, or which management may make orally or in writing from time to time, neither as predictions of future events nor guarantees of future performance. Prior to forming RailField, Mr. Bacon spent 19 years at Fannie Mae, most recently serving as the Executive Vice President of the multifamily mortgage business fromJuly 2005toMarch 2012. The properties continue to be managed by Northbridge. John Burkart. Mr. Mitra owns over 1,666 units of Welltower stock worth over $467,943 and over the last 5 years he sold WELL stock worth over $0. Additionally, a 500 Internal Server Error Were seeing what we believe to be a challenge in the marketplace today, and were pouncing on this opportunity as we are on the investment side.. Shankh has made over 9 trades of the Welltower stock since 2018, according to the Form 4 filled with the SEC. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Mr. Mitra served as Senior Analyst at Citadel Investment Group from April 2012 to June 2013 and Fidelity Investments from June 2009 to March 2012. I look forward to working with Shankh, David, Paul and the entire Board to achieve these objectives as we continue to create long-term value for Public Storage shareholders., Mr. Mitra said, Public Storage has built a nationally recognized brand and unmatched scale in the self-storage industry. During his first earnings call as CEO of Welltower, Shankh Mitra said the Toledo, OH-based real estate investment trusts strategy will not change. Mitra will retain his CIO title and continue to lead Welltowers data analytics-driven capital allocation and operator relationships. Prior to joining Equity Residential, Mr. Neithercut served as Senior Vice President of Finance for Equity Group Investments. After the end of the quarter, in October, the company closed in the first tranche, including 11 properties, for $90 million. Of this total $1,000,039 was received as a salary, $3,920,000 was received as a bonus, $1,500,088 was received in stock options, $5,999,991 was awarded as stock and $333,592 came from other types of compensation. Shankh Mitra. During his first earnings call as CEO of Welltower, Shankh Mitra said the Toledo, OH-based real estate investment trust's strategy will not change. His vision of reimagining and reinventing the built environment for effective delivery of health care and wellness services has played an instrumental role in transforming Welltower into the worlds largest health and wellness real estate platform. Since the start of the pandemic, Shankhs unyielding focus on portfolio performance and optimization has never been more evident. The Company also announced that Kenneth J. Bacon, who has been serving as an Independent Director on the Board since 2016, has been named Chairman. There is no executive better suited to lead Welltower at this critical juncture. Our need-based product will likely see meaningful traction and demand.. View Bio. Figured I'd Blogs - Speaking Tree Rudra Centre presents Divine Rudraksha Rings in Pure Silver, with separate elegant designs for Men and Women. and the actions you performed just before this error. Mr. Williams said, It is a privilege to be appointed to Public Storages Board of Trustees, and Im excited by the opportunity to build on the Companys long history of success. Last updated: 5 January 2023 at 5:03pm EST. I would like to thank our Nominating/Corporate Governance Committee for its continued work and diligence, and I am confident these new Trustees are the right additions to our Board. Those expenses were related to higher labor costs and spending on personal protective equipment and other supplies. Mr. Mitra is the Chief Executive Officer and Chief Investment Officer of Welltower Inc., and serves on the Companys Board of Directors. This report is not for commercial use. Over the last 5 years, insiders at Welltower have traded over $1,876,515 worth of Welltower stock and bought 3,587 units worth $192,115 The information shown here is a reporting of information included in the company's proxy statement. Mr. Mitra served as Welltowers Senior Vice President - Investments from January 2018 to August 2018. Shankh has made over 9 trades of the Welltower stock since 2018, according to the Form 4 filled with the SEC. Search over 700 Mr. Williams is a member of the Economic Club of Chicago. Mr. Mitra, who has been serving as Vice Chair, Chief Operating Officer and Chief Investment Officer, succeedsThomas J. DeRosa, who is stepping down as Chairman and CEO after leading Welltower for more than six years. Mitra who has been serving as Vice Chair, Chief Operating Officer, and Chief Investment Officer is succeeding Thomas J. DeRosa. Bacon is a co-founder of RailField Realty Partners, a financial advisory and asset management firm. Mr. Bacon received an MBA from Harvard Business School, a Master of Science (M.Sc.) The most recent stock trade was executed by Joshua Fieweger on 15 February 2022, trading 1,612 units of WELL stock currently worth $115,548. Welltower will continue to strive to be the premier wellness infrastructure company that allocates capital in the path of growth of healthcare and wellness trends., Mitra, who was appointed CEO and to the companys board of directors effective Oct. 5, described his predecessor, Thomas J. DeRosa, as a close friend and mentor and a visionary.. "Welltower will continue to strive to be the premier wellness infrastructure company that allocates capital in the path of . On behalf of the entire Board of Directors, I want to sincerely thank Tom for his lasting contributions to the Company. Mr. Mitra joined Welltower in 2016 and has served as the Company's Chief Investment Officer since 2018, adding the roles of Vice Chair and Chief Operating Offer in April 2020. Mitra has also served as senior vice president, finance, and then as senior vice president, investments, before assuming his most recent roles. to register for our FREE healthcare real estate and/or life sciences real estate e-newsletters. https://www.businesswire.com/news/home/20201213005046/en/. in the server error log. In connection with those discussions, Elliott confidentially submitted, before the nomination deadline of December 12, 2020, the names of six nominees for election to the Public Storage Board of Trustees. The estimated Net Worth of Shankh Mitra is at least $6.2 Million dollars as of 26 April 2022. "The answer to that question is an emphatic no," he told analysts. The full content of this article is only available to paid subscribers. View Bio. Up to 5 The experience of accelerated move-ins and the pace of move-ins tells you customers need our product, Mitra said. Tim McHugh. Executive Vice President - Chief Financial Officer. TOLEDO, Ohio, Oct. 5, 2020 /PRNewswire/ -- Welltower Inc. (NYSE: WELL) today announced that Shankh Mitra has been appointed Chief Executive Office. Since the start of the pandemic, Shankhs unyielding focus on portfolio performance and optimization has never been more evident. On record we show 3 phone numbers associated . Dan for their years of service as Trustees of Public Storage. We observed such a trend during the recessionary circumstances of 2009; however, to date we have not seen any material change in the move-out patterns of long-term customers; risk of negative impacts on the cost and availability of debt and equity capital as a result of the COVID Pandemic, which could have a material impact upon our capital and growth plans; the impact of competition from new and existing self-storage and commercial facilities and other storage alternatives; the risk that our existing self-storage facilities may be at a disadvantage in competing with newly developed facilities with more visual and customer appeal; risk related to increased reliance on Google as a customer acquisition channel; difficulties in our ability to successfully evaluate, finance, integrate into our existing operations and manage properties that we acquire directly or through the acquisition of entities that own and operate self-storage facilities; risks associated with international operations including, but not limited to, unfavorable foreign currency rate fluctuations, changes in tax laws and local and global economic uncertainty that could adversely affect our earnings and cash flows; risks related to our participation in joint ventures; the impact of the legal and regulatory environment, as well as national, state and local laws and regulations including, without limitation, those governing environmental issues, taxes, our tenant reinsurance business, and labor, including risks related to the impact of new laws and regulations; risks of increased tax expense associated either with a possible failure by us to qualify as a REIT, or with challenges to the determination of taxable income for our taxable REIT subsidiaries; risks due to a November 2020 California ballot initiative (or other equivalent actions) that could remove the protections of Proposition 13 with respect to our real estate and result in substantial increases in our assessed values and property tax bills in California; changes in United States federal or state tax laws related to the taxation of REITs and other corporations; security breaches or a failure of our networks, systems or technology could adversely impact our operations or our business, customer and employee relationships or result in fraudulent payments; risks associated with the self-insurance of certain business risks, including property and casualty insurance, employee health insurance and workers compensation liabilities; difficulties in raising capital at a reasonable cost; delays and cost overruns on our projects to develop new facilities or expand our existing facilities; ongoing litigation and other legal and regulatory actions which may divert managements time and attention, require us to pay damages and expenses or restrict the operation of our business; and economic uncertainty due to the impact of war or terrorism. 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