NEW
GLASGOW, NS, June 13,
2022 /CNW/ - Crombie Real Estate Investment Trust
("Crombie") (TSX: CRR.UN) today announced the retirement of
Executive Vice President & Chief Operating Officer Glenn Hynes, effective October 31,
2022.
Glenn Hynes joined Crombie REIT
in 2010 as Chief Financial Officer & Secretary and in 2018
became Executive Vice President & Chief Operating Officer.
"Glenn has made incredible contributions to Crombie," said
Crombie President & CEO
Don Clow. "Glenn has been a highly
valued and respected leader on our team since 2010. In his early
days as CFO, Glenn built the strong financial conditions that
enabled us to pivot our strategy which has resulted in our pursuit
of best-in-class AFFO and NAV growth. In his most recent years as
EVP & COO, Glenn led the construction, development, leasing and
operations functions which among many accomplishments led the
successful completion of our first six major development projects
and important work in advancing our strategic partnership with
Empire. Glenn has also been a key champion in support of Crombie's
culture and values and a catalyst for our robust response and
results during the pandemic. We are grateful for his strong
strategic acumen, trusted leadership and wise counsel over the past
12 years."
"I am very proud of the Crombie organization as we have created
a compelling combination of great real estate and extraordinary
talent supported and enabled by a culture and values system that is
a true competitive advantage," said Glenn
Hynes, EVP & COO. "I am also proud of our many
accomplishments over the years which have led to us earning a
reputation for "doing what we said we would do" with passion,
commitment and accuracy. The future is bright, and I look forward
to cheering on the Company's progress."
Don Clow added, "Crombie is in an
enviable position in the Canadian real estate market. Crombie's
high-quality and primarily grocery-anchored portfolio continues to
demonstrate strength. We have dedicated and skilled talent which
allows us to be strong operators, while also focusing on an
increased investment in Empire-related initiatives and our real
estate development program. Glenn has focused on his succession by
mentoring leaders across the organization including some who are
ready to fill his shoes and we will share more details over the
coming months. With our great team, we are well-positioned to
continue executing our strategy and creating long-term value for
our stakeholders."
About Crombie REIT
Crombie Real Estate Investment Trust ("Crombie") invests in real
estate that enriches local communities and enables long-term
sustainable growth. As one of the country's leading owners,
operators, and developers of quality real estate, Crombie's
portfolio primarily includes grocery-anchored retail,
retail-related industrial, and mixed-used residential properties in
Canada's top urban and suburban
markets. As at March 31, 2022, our
portfolio contains 294 income-producing properties comprising
approximately 18.5 million square feet, and a significant pipeline
of future development projects. Learn more at www.crombie.ca.
SOURCE Crombie REIT