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. 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.. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments, before assuming his most recent roles. I look forward to bringing my expertise to the Board to help advance Public Storages strategic initiatives and drive value for its shareholders, employees and loyal customers.. Public Storage and Elliott Associates, L.P. (Elliott) have had constructive discussions in recent weeks. Mr. Bacon is a member of the Board of Directors of Comcast Corporation having previously served as Lead Independent Director and Ally Financial Inc. Biography of Shankh Mitra Mr. Shankh Mitra is an Independent Trustee at Public Storage, a Director, Chief Executive & Investment Officer at Welltower, Inc. and a Member-Real Estate & Infrastructure Counsel at The World Economic Forum USA, Inc. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Prior to joining Welltower, he was a portfolio manager investing in 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. Our need-based product will likely see meaningful traction and demand.. 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. The answer to that question is an emphatic no, he told analysts. 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 world's largest health and wellness real estate platform. 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. https://welltower.com/october-business-update, 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. degree from the London School of Economic and Political Science, and a bachelors degree in Anthropology fromStanford University. Matt McQueen. Mitra who has been serving as Vice Chair, Chief Operating Officer, and Chief Investment Officer is succeeding Thomas J. DeRosa. He was Executive Vice PresidentCorporate Strategy of the Company from January 2004 to May 2005, and Executive Vice President and Chief Financial Officer of the Company from February 1995 to August 2004. Welltower executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. I would also like to thank Uri, Wayne, and Welltower Appoints Shankh Mitra Chief Executive Officer, Healthcare Apprenticeship Expansion Program. Welltowers COVID-19 expenses were about $17 million for the third quarter and $61 million for the year as of Sept. 30. Mitra said Welltower has more than $1 billion of acquisitions in its pipeline and that they represent a wide range of transactions. In todays environment, innovation and efficiency are more important than ever, and I strongly believe Public Storage is well-positioned to leverage these competitive advantages to capture the opportunities ahead. The company also announced thatKenneth J. Bacon, who has been serving as an independent director on the board since 2016, has been named chairman. Mitra, who has been serving as vice chair, COO and chief investment officer, succeedsThomas J. DeRosa, who is stepping down as chairman and CEO after leading Welltower for more than six years. Those expenses were related to higher labor costs and spending on personal protective equipment and other supplies. 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 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. He joined Welltower in 2016 as Senior Vice President, Finance, and served as Senior Vice President, Investments, Executive Vice President, Vice Chairman, and Chief Operating Officer before assuming his current role. "The answer to that question is an emphatic no," he told analysts. 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. Todays appointments underscore the Companys commitment to continually enhancing its corporate governance, and Im honored to contribute my skills and experience to furthering Public Storages winning culture as a driver of value creation.. Welltower is in a very strong position today and has a bright future., Mr. DeRosa commented, I am proud of our many accomplishments during my time as CEO and thankful to the Board and the entire Welltower team for allowing me to pursue my vision. Bacon is a co-founder of RailField Realty Partners, a financial advisory and asset management firm. With our highly-motivated team and an ultra-strong balance sheet, we are well positioned to drive significant long-term value for shareholders., Bacon added, I am honored to be named Chairman and look forward to working with Shankh and the rest of the highly-experienced leadership team and board to build upon the foundation Tom laid and deliver significant per-share growth to our shareholders. If you are an active subscriber, please log in. Mr. Neithercut said, I have long respected Public Storages leadership in both the self-storage sector and real estate generally. 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. Since the start of the pandemic, Shankh's unyielding focus on portfolio performance and optimization has never been more evident. Bachelor of Engineering (Electronics Engineering), If you're not automatically redirected, please click here. Mitra, who has been serving as Vice Chair, Chief Operating Officer and Chief Investment Officer, succeeds Thomas J. DeRosa, who is stepping down as Chairman and CEO after leading Welltower for. As the Chief Executive Officer, Chief Investment Officer, and Director of Welltower, the total compensation of Shankh Mitra at Welltower is $5,728,140. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. In addition to a strong brand and deep customer loyalty, Public Storage has a demonstrated commitment to empowering its employees and creating a diverse and inclusive workplace. Executive Vice President - Chief Financial Officer. 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.). Earlier this month, it sold a portfolio of senior housing properties operated by Northbridge Companies for $200 million, rationing a 20% investment in the portfolio. Shankh and I have worked shoulder-to-shoulder over the last five years and I have witnessed his strong leadership, relentless focus on organizational efficiency and unparalleled approach to capital allocation. Finally, Welltower undertakes no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise, or to update the reasons why actual results could differ from those projected in any forward-looking statements. "While COVID-19 has presented us with many challenges, the past six months have underscored Welltower's core value proposition: to serve as a strategic, nimble and creative capital allocator by leveraging our operator relationships and data platform. He received an MBA fromHarvard Business School, a master of science degree from the London School of Economic and Political Science, and a bachelors degree in anthropology fromStanford University. 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 from July 2005 to March 2012. misconfiguration and was unable to complete Mr. Bacon has served as RailFields managing partner since his retirement from the Federal National Mortgage Association (Fannie Mae) inMarch 2012. Mr. Mitra began his career at PricewaterhouseCoopers. Mr. Bacon received an MBA from Harvard Business School, a Master of Science (M.Sc.) Bacon has served as RailFields managing partner since his retirement from the Federal National Mortgage Association (Fannie Mae) inMarch 2012. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. million verified professionals across 35 million companies. On record we show 3 phone numbers associated . Lead Independent DirectorJeffrey H. Donahuesaid, Tom and I have known each other for years and he has always been an extremely capable executive. Prior to joining Welltower, Mr. Mitra served as 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. He is on the Board of Directors at Public Storage, Welltower, Inc., ProMedica Health Systems, Inc. and HCR ManorCare, Inc. Mr. Mitra was previously employed as a Portfolio Manager by Millennium Management, Inc. and an Analyst by Pyramis Global Advisors LLC. Mr. Bacon is a member of the Board of Directors of Comcast Corporation having previously served as Lead Independent Director and Ally Financial Inc. All rights reserved. With the addition of Shankh, David, and Paul, the Company has added five independent Trustees in the past 18 months. According to this definition women are the form of shakti and they are playing different roles in a man's life. Although the last seven months have been very challenging for the senior housing triple net operators, the sequential stabilization we saw between the second and third quarter, along with relief funds from [the Department of Health and Human Services] to be received in the fourth quarter, should help our operators find their footing heading into 2021, said Tim McHugh, executive vice president and chief financial officer. He received his undergraduate degree from Jadavpur University and an MBA from Columbia Business School. Up to 5 Shankh Mitra serves as Chief Executive Officer, Chief Investment Officer, Director of the Company. 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. Storage Blog, Commercial Real We believe we are making a real impact and anticipate creating exceptional value, Mitra said. Mr. Mitra served as Welltowers Senior Vice President - Finance & Investments from January 2016 to January 2018. ", Mr. Bacon added, "I am honored to be named Chairman and look forward to working with Shankh and the rest of the highly-experienced leadership team and Board to build upon the foundation Tom laid and deliver significant per-share growth to our shareholders. The companies were formed over a thirty-three year period with the most recent being incorporated five months ago in February of 2022. The largest trade he's ever made was exercising 25,444 units of Welltower stock on 15 February 2022 worth over $1,714,671. Mr. Bacon received an MBA fromHarvard Business School, a Master of Science (M.Sc.) 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. This may be a result of various factors, including, but not limited to: the duration and scope of the COVID-19 pandemic; the impact of the COVID-19 pandemic on occupancy rates and on the operations of Welltower and its operators/tenants; actions governments take in response to the COVID-19 pandemic, including the introduction of public health measures and other regulations affecting Welltower's properties and the operations of Welltower and its operators/tenants; the effects of health and safety measures adopted by Welltower and its operators/tenants related to the COVID-19 pandemic; increased operational costs as a result of health and safety measures related to COVID-19; the impact of the COVID-19 pandemic on the business and financial condition of operators/tenants and their ability to make payments to Welltower; disruptions to Welltower's property acquisition and disposition activity due to economic uncertainty caused by COVID-19; general economic uncertainty in key markets as a result of the COVID-19 pandemic and a worsening of global economic conditions or low levels of economic growth; the status of capital markets, including availability and cost of capital; uncertainty from the expected discontinuance of LIBOR and the transition to any other interest rate benchmark; issues facing the health care industry, including compliance with, and changes to, regulations and payment policies, responding to government investigations and punitive settlements and operators'/tenants' difficulty in cost effectively obtaining and maintaining adequate liability and other insurance; changes in financing terms; competition within the health care and seniors housing industries; negative developments in the operating results or financial condition of operators/tenants,including, but not limited to, their ability to pay rent and repay loans; Welltower's ability to transition or sell properties with profitable results; the failure to make new investments or acquisitions as and when anticipated; natural disasters and other acts of God affecting Welltower's properties; Welltower's ability to re-lease space at similar rates as vacancies occur; Welltower's ability to timely reinvest sale proceeds at similar rates to assets sold; operator/tenant or joint venture partner bankruptcies or insolvencies; the cooperation of joint venture partners; government regulations affecting Medicare and Medicaid reimbursement rates and operational requirements; liability or contract claims by or against operators/tenants; unanticipated difficulties and/or expenditures relating to future investments or acquisitions; environmental laws affecting Welltower's properties; changes in rules or practices governing Welltower's financial reporting; the movement of U.S. and foreign currency exchange rates; Welltower's ability to maintain Welltower's qualification as a REIT; key management personnel recruitment and retention; the impact of our senior leadership transition; and other risks described in Welltower's reports filed from time to time with the SEC. 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