Healthcare Realty Trust Incorporated (NYSE:HR) has announced a significant change in its leadership, with Todd Meredith stepping down as President and CEO. Constance "Connie" Moore, a current board member and former President and CEO of BRE Properties, Inc., has been appointed as the interim President and CEO.
Healthcare Realty Trust's portfolio includes nearly 675 properties totaling approximately 40 million square feet concentrated in 15 growth markets. The company operates medical outpatient buildings primarily located around market-leading hospital campuses.
The board has also decided to reduce its size from 12 to 11 members and has formed a committee to oversee the permanent President and CEO search. Additionally, they intend to engage a leading executive search firm to assist in the process.
This leadership transition comes at a time when the company is confident in its strategic direction and trajectory, with a management team possessing significant experience in the real estate industry.
It's also notable that Todd Meredith had dedicated 23 years of service to Healthcare Realty, with eight of those years spent as President and CEO.
As the company moves forward with this change, shareholders will be closely watching to see the impact on Healthcare Realty's performance in the coming periods. The market has reacted to these announcements by moving the company's shares 0.3% to a price of $17.6. Check out the company's full 8-K submission here.
