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 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.
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