BLOOMFIELD HILLS, Mich.,
July 7, 2017 /PRNewswire/
-- Agree Realty Corporation (NYSE: ADC) (the "Company")
announced today that Mr. Matthew
Partridge has resigned as Chief Financial Officer and
Secretary to accept a position with a privately-held real estate
development company. The resignation will take effect after a
transition period, which is expected to end on or around
August 4, 2017. Mr.
Kenneth Howe, former Chief Financial
Officer of the Company, has been appointed to serve as interim
Chief Financial Officer upon Mr. Partridge's departure. Mr.
Howe has been with the Company since its initial public offering in
1994, serving as Chief Financial Officer from April 1994 to November
2010, and as interim Chief Financial Officer from
July 2015 to January 2016. From
November 2010 to August 2015 and since January 2016, Mr. Howe served as the Company's
Director of Tax. Mr. Daniel
Ravid, the Company's Chief Administrative Officer, will
continue to lead the day-to-day operations of the Company's
accounting department. The Company has commenced a search for
Mr. Partridge's permanent replacement.
"We want to thank Matt for his contributions to our Company
during his tenure and wish him the best in his new position," said
Joey Agree, President and Chief Executive Officer of the
Company. "We will work to locate and hire a capable,
like-minded successor in a timely fashion. We are confident
that our experienced financial and accounting teams will continue
to oversee the financial operations of the Company while we look
for Matt's successor."
About Agree Realty Corporation
Agree Realty Corporation is a publicly traded real estate
investment trust primarily engaged in the acquisition and
development of properties net leased to industry-leading retail
tenants. The Company currently owns and operates a portfolio
of 414 properties, located in 43 states and containing
approximately 8.0 million square feet of gross leasable
space. The common stock of Agree Realty Corporation is listed
on the New York Stock Exchange under the symbol "ADC". For
additional information, please visit
www.agreerealty.com.
Forward-Looking Statements
This press release contains forward-looking statements that
represent the Company's expectations and projections for the
future. Although these forward-looking statements are based on good
faith beliefs, reasonable assumptions and the Company's best
judgment reflecting current information, certain factors could
occur that might cause actual results to vary, including
deterioration in national economic conditions, weakening of real
estate markets, decreases in the availability of credit, increases
in interest rates, adverse changes in the retail industry, our
continuing ability to qualify as a REIT and other factors discussed
in the Company's reports filed with the Securities and Exchange
Commission. Except as required by law, the Company assumes no
obligation to update these forward-looking statements, even if new
information becomes available in the future.
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SOURCE Agree Realty Corporation