TOLEDO, Ohio Welltower Inc. (NYSE: WELL) announced that Shankh Mitra has been appointed chief executive officer and will join the board of directors. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve peoples wellness and overall health care experience. In April, we elevated Shankh to the roles of vice chair and COO with the intent that he would ultimately succeed Tom as CEO. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. 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. Welltower Inc. (NYSE: WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. 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. shankh mitra wife . After careful thought and consideration of the Company's 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. The full content of this article is only available to paid subscribers. 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. Lead Independent Director Jeffrey H. Donahue said, "Tom and I have known each other for years and he has always been an extremely capable executive. Mr. Neithercut said, I have long respected Public Storages leadership in both the self-storage sector and real estate generally. Shankh Mitra serves as Chief Executive Officer, Chief Investment Officer, Director of the Company. An associated email address for Shankha is l*****@sbcglobal.net. In April, we elevated Shankh to the roles of Vice Chair and COO with the intent that he would ultimately succeed Tom as CEO. The company expects spot occupancy to decline 75 to 125 basis points in the fourth quarter, relative to Sept. 30. Prior to joining Welltower, Mr. Mitra 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. (business & personal). Further, these highly-qualified new Trustees bring diverse backgrounds and experiences, and they have a demonstrated focus on sustainable value-creation, which will support the Boards and managements strategy to promote the long-term resilience of our business and enhance shareholder value. document.addEventListener( 'DOMContentLoaded', function () {const newsletterAsset = new HMIRegistration({ publicationId: 47, pubName: "McKnight's Senior Living", view: 'newsletter-asset', bootstrap: document.getElementById('newsletter-asset'), formType : "user-initiated",pubType: "business"});newsletterAsset.mount();}); Please login or register first to view this content. 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. Mr. Bacon is a co-founder of RailField Realty Partners, a financial advisory and asset management firm. Mr. Williams received an undergraduate degree, cum laude, from Harvard University and a J.D. For its 2021 fiscal year, WELLTOWER INC., listed the following CEO pay ratio data on its annual proxy statement to the SEC. Mr. Mitra is primarily responsible for capital allocation decisions at Welltower, and brings over a decade of experience in investments, finance and real estate to the Company. All rights reserved. John Burkart. He is a member of the board of directors of Comcast Corporation, having previously served as lead independent director, and of Ally Financial Inc. 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.. Shankh Mitra, David Neithercut, and Paul Williams Bring Significant Financial, Real Estate Investing, and Corporate Governance Expertise and Leadership Experience. The estimated Net Worth of Shankh Mitra is at least $6.2 Million dollars as of 26 April 2022. WELLTOWER INC. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Welltower, a real estate investment trust (REIT), owns interests in properties concentrated in major, high growth markets inthe United States,Canadaand theUnited Kingdom, consisting of seniors housing, post-acute communities and outpatient medical properties. In addition, he makes $5,728,140 as Chief Executive Officer, Chief Investment Officer, and Director at Welltower. Shankha is a resident of 13637 Sheila Lynn Crt, Dade City, FL 33525-4514. All of our forward-looking statements, including those in this press release, are qualified in their entirety by this statement. During his first earnings call as CEO of Welltower, Shankh Mitra said the Toledo, OH-based real estate investment trusts strategy will not change. Shankh Mitra Chief Executive Officer at Welltower Inc. (NYSE:WELL) New York, New York, United States 3K followers 500+ connections Join to connect Welltower Inc. (NYSE:WELL) Activity It is with. From July 2013 to December 2015, Mr. Mitra served as Portfolio Manager, Real Estate Securities at Millennium Management. Shankh Mitra has been promoted to CEO of Welltower and will join the company's board of directors effective immediately, the real estate investment trust announced late Monday.. 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 more than six years. Welltower Appoints Shankh Mitra Chief Executive Officer, Healthcare Apprenticeship Expansion Program. I am excited to work alongside my fellow Trustees to further the Companys focus on long-term resilience and execute on its strategic growth initiatives.. Shankh Mitra Overview. Mr. Neithercut served as Chief Executive Officer of Equity Residential from January 2006 until his retirement in December 2018 and President of the Company from May 2005 to September 2018. Estate. Public Storage (NYSE:PSA) announced today the appointment of three new members to its Board of Trustees, effective January 1, 2021, including: The Company also announced that three current Trustees, Uri P. Harkham, B. Wayne Hughes, Jr., and Daniel C. Staton, have decided to retire from the Board effective December 31, 2020. These forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results and performance to be materially different from those expressed or implied in the forward-looking statements. Over the past two decades, these retiring Trustees have helped shepherd Public Storage to truly extraordinary growth while maintaining financial discipline and an incredibly strong balance sheet. from 8 AM - 9 PM ET. Welltower operators expect to receive about $45 million in CARES Act Provider Relief Funds in the fourth quarter after HHS expanded eligibility of funding to assisted living communities. free lookups / month. He also held senior analyst positions at Citadel Investment Group and Fidelity Investments after beginning his career at PricewaterhouseCoopers. The REIT also reported that 96% of its communities are accepting new residents. In this role, Mr. Bacon will lead the Board and partner with Mr. Mitra and the leadership team as they execute the Company's strategy to create long-term shareholder value. 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. With the addition of Shankh, David, and Paul, the Company has added five independent Trustees in the past 18 months. Im truly excited for Welltowers future and will be cheering for the companys continued success in the years to come.. On behalf of the entire Board of Directors, I want to sincerely thank Tom for his lasting contributions to the Company. I am grateful to Tom for his mentorship and partnership and I deeply appreciate the confidence and trust the Board and my colleagues have placed in me, said Mr. Mitra. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments, before assuming his most recent roles. To subscribe, please click here: SUBSCRIBE, Posted in Breaking News, Companies & People, REIT Report. With our highly-motivated team and an ultra-strong balance sheet, we are well positioned to drive significant long-term value for shareholders. Connect with 500+ development firms today, Chief Executive Officer & Chief Investment Officer, Job Functions: Executive, Acquisitions & Dispositions, Asset Management, Development, Investment Management, Underwriting & Analysis. When Welltower uses words such as may, will, intend, should, believe, expect, anticipate, project, pro forma, estimate or similar expressions that do not relate solely to historical matters, Welltower is making forward-looking statements. He was a Senior Analyst at Citadel Investment Group and Fidelity Investments and began his career at PricewaterhouseCoopers where he served several global clients. 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. 1650 King Street, Suite 602 TOLEDO, OhioWelltower Inc. (NYSE:WELL) announced that Shankh Mitra has been appointed chief executive officer and will join the board of directors. Since the start of the pandemic, Shankhs unyielding focus on portfolio performance and optimization has never been more evident. There are no executives at Welltower getting paid more. Executive Vice President - Chief Operating Officer. For more information, visitwww.welltower.com. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments, before assuming his most recent roles. "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. Shankh has made over 9 trades of the Welltower stock since 2018, according to the Form 4 filled with the SEC. 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. View Bio. Additional information about Public Storage is available on the Companys website at PublicStorage.com. Mitra, who has been serving as vice chair, COO and chief investment officer, succeeds Thomas J. DeRosa, who is stepping down as chairman and CEO after leading Welltower for more than six years. Thorough reviews have been conducted to assure this data accurately reflects disclosures. In the coming weeks and months, you will see a series of promotions and new roles that will consolidate the leadership of this company not a change per se, just a recognition of the exceptional work that the team is doing, he said. Mr. Mitra served as Senior Analyst at Citadel Investment Group from April 2012 to June 2013 and Fidelity Investments from June 2009 to March 2012. No credit card required. Bacon joined Welltowers board of directors in 2016. View Bio. Mr. Mitra received an MBA fromColumbia Business Schoolspecializing in Applied Value Investing and a bachelors degree in Engineering from Jadavpur University. Executive Vice President - General Counsel & Corporate Secretary . Mr. Mitra will retain his CIO title and continue to lead Welltower's data analytics-driven capital allocation and operator relationships. For a woman, a religious, devoted wife, wealthy, all comforts of . your request. 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. According to this definition women are the form of shakti and they are playing different roles in a man's life. GLENDALE, Calif.--(BUSINESS WIRE)-- The REIT expects such expenses to remain elevated during the pandemic. Mitra received an MBA fromColumbia Business Schoolspecializing in applied value investing and a bachelors degree in engineering from Jadavpur University. Public Storage Appoints Three New Independent Trustees, https://www.businesswire.com/news/home/20201213005046/en/, Business {{ userNotificationState.getAlertCount('bell') }}. As the Chief Executive Officer, Chief Investment Officer, and Director of Welltower, the total compensation of Shankh Mitra at Welltower is $5,728,140. In connection with those discussions, Elliott confidentially submitted, before the nomination deadline of December 12, 2020, the names of six nominees for election to the Public Storage Board of Trustees. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments, before assuming his most recent roles. We wish them all the best in their future endeavors., The Public Storage Board continuously reviews our Board composition to ensure that we are aligned with the interests of our stakeholders, and todays announcement follows engagement and input from our shareholders, added Mr. Havner. 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. Began his career at PricewaterhouseCoopers where he served several global clients David, and Director at Welltower getting paid.! 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