IRVINE, Calif., March 28, 2016 /PRNewswire/ -- HCP, Inc.
(NYSE:HCP) today announced that Timothy
Schoen, Executive Vice President and Chief Financial
Officer, is leaving HCP to become President of BioMed Realty, a
real estate company serving the life science industry that was
recently acquired by real estate funds managed by Blackstone for
approximately $8 billion. Mr.
Schoen will remain in his current role at HCP through May 22 to oversee reporting of first quarter
earnings and to ensure a smooth transition of his duties.
The Company has commenced the process of recruiting a successor
for Mr. Schoen and has retained Spencer
Stuart, a leading global executive search firm, to lead the
search process.
Mr. Schoen joined HCP in 2006 and has served as Executive Vice
President and Chief Financial Officer since 2011. From 2009
to 2011, he was Executive Vice President — Life Science and
Investment Management, during which time he led HCP's premier life
science platform.
"It is difficult to leave a great company for which I feel
privileged to have worked for the past 10 years," said Mr.
Schoen. "I am very proud of our accomplishments, and I have
greatly appreciated the opportunity to work closely with our
executive management and many dedicated colleagues at HCP,
including our outstanding finance, accounting and tax team. I
am confident that HCP will attract a well-qualified successor and
will continue to achieve great success in the future."
"On behalf of the entire Company and Board of Directors, we
thank Tim for his significant contributions to HCP," said
Lauralee Martin, President and Chief
Executive Officer. "Personally, I thank Tim for being a true
partner and a valued and effective member of our leadership team.
His contributions have strengthened our organization and
positioned us well for the future. We wish Tim only success
in his new role and are proud of the market recognition of the
superb professional talent at HCP."
Ms. Martin added, "We have a detailed transition plan in place
and are grateful that Tim will remain in his position for the next
two months to help us with the process. Until we find the
right successor, our strong and talented finance team is capable of
handling all of the needs of the organization."
About HCP
HCP, Inc. is a fully integrated real estate investment trust
(REIT) that invests primarily in real estate serving the healthcare
industry in the United States. HCP's portfolio of assets is
diversified among five distinct sectors: senior housing,
post-acute/skilled nursing, life science, medical office and
hospital. A publicly traded company since 1985, HCP: (i) was
the first healthcare REIT selected to the S&P 500 index; (ii)
has increased its dividend per share for 31 consecutive years;
(iii) was the first REIT included in the S&P 500 Dividend
Aristocrats index; and (iv) is recognized as a global leader in
sustainability as a member of the Dow Jones and FTSE4Good
sustainability indices, as well as the recipient in three of the
past four years of both the GRESB Global Healthcare Sector Leader
and the NAREIT Healthcare Leader in the Light Award. For more
information regarding HCP, visit www.hcpi.com.
Forward-Looking Statements
The statements contained in this release that are not
historical facts are forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, including those relating to the
resignation of Mr. Schoen and the search for his successor.
These statements are made as of the date hereof, and are not
guarantees of future events. They are subject to risks and
uncertainties that could cause actual events to differ materially
from those set forth therein or implied thereby. These risks
and uncertainties include but are not limited to the possibility
that HCP and Mr. Schoen agree to a different effective resignation
date or a change in his responsibilities. The Company assumes
no, and hereby disclaims any, obligation to update any of the
foregoing or any forward-looking statements as a result of new
information or new or future developments, except as otherwise
required by law.
HCP, Inc.
John Lu
Executive Vice President – Corporate Finance and Investments
(949) 407-0400
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SOURCE HCP, Inc.