San Diego-based Realty Income Corp. recently revealed that Sumit Roy, the company’s President and Chief Operating Officer, has been appointed Chief Executive Officer and to the Board of Directors, effective immediately, succeeding John P. Case.
“Sumit has been a valuable contributor to our senior management team since joining Realty Income in 2011, and his leadership as President and COO has been instrumental in building Realty Income into the successful Company it is today,” said Michael D. McKee, Chairman of the Board of Directors. “Sumit’s deep understanding of our business, operations and strategy, and appreciation for our hard-working employees, make him the perfect choice to seamlessly take on the responsibilities of President and CEO. We are confident in Sumit’s ability to lead the Company, execute on our strategic priorities and drive shareholder value.”
“I am honored to serve as Realty Income’s President and CEO during this exciting time in the Company’s history,” said Mr. Roy. “Driven by the efforts of our experienced management team and dedicated employees, I am confident that Realty Income is well-positioned to continue building upon the Company’s positive momentum. I thank John for his support and guidance over the years. Our diversified, high-quality portfolio, operations and investment opportunities remain strong. I look forward to continue working closely with the Board and our talented team to evolve and execute on our strategy, and I expect a seamless transition.”
Case said, “I have enjoyed my eight-plus years at Realty Income and especially working closely with Sumit for the last seven years at the Company, and I am confident that he is the natural choice to be the CEO. I believe Realty Income is well-positioned for continued growth and success. The Company has a bright future and I wish the best for Realty Income’s outstanding team members.”
Mr. McKee continued, “On behalf of the Board, I thank John for his service and wish him continued success. We are proud of our team’s many accomplishments for our shareholders while John was CEO. We are confident about the future of the Company and continue to believe we are led by one of the most talented management teams in the industry.”