Welltower Inc. recently revealed the promotion of Shankh Mitra to Executive Vice President and Chief Investment Officer from his current position as Senior Vice President, Investments and the promotion of Tim McHugh to Senior Vice President, Corporate Finance from his current position as Vice President, Finance and Investments. Additionally, Tim Lordan has been named Senior Vice President and Corporate Treasurer, and Rich Hansen takes on expanded responsibilities as Vice President, Asset Management.
Additionally, the company revealed a new organization structure in its Corporate Finance and Asset Management departments to support the continued growth of its healthcare real estate portfolio.
Detail on the promotions and role changes includes:
Shankh Mitra’s promotion to the role of Executive Vice President and Chief Investment Officer reflects his responsibility for the Company’s extensive acquisition and investment activity, including seniors housing, medical office buildings and other healthcare properties, as well as his oversight for the Company’s expanded Asset Management function. “Shankh’s contribution has been essential to the strategic transformation of the Company,” said Tom DeRosa, Chief Executive Officer of Welltower. “He has played a lead role in our most significant business ventures and relationships, and we are pleased to recognize his contributions with this promotion.”
Tim McHugh is promoted to Senior Vice President, Corporate Finance. While McHugh will continue to oversee the Capital Markets and Corporate Finance functions, he gains responsibility for the company’s combined Financial Planning & Analysis and Portfolio Management functions. McHugh will continue to report to Welltower Chief Financial Officer, John Goodey. According to DeRosa, “Tim’s contribution to our Corporate Finance strategy, strong financial position and investor relations has been outstanding. He has played an integral role in the evolution of Welltower’s strategy and business platform.”
Tim Lordan has been appointed to Senior Vice President, Treasurer, from Senior Vice President, Asset Management. Lordan will report to Goodey. “Tim has a long and successful track record in the REIT industry and is known for his diligent finance and accounting acumen. We are excited to leverage his deep experience in his new role as Treasurer,” said Goodey.
Rich Hansen takes on an expanded role as Vice President, Asset Management – Team Leader. Rich will have expanded accountability for Asset Management, Value Added Services and Sustainability, and will report to Mitra. “Rich has been a driving force in Welltower’s advancement as a data-driven organization. His experience in the industry and knowledge of our operating platform position him very effectively to excel with these additional responsibilities,” said Mitra.
“I am privileged to work side-by-side with these high-caliber individuals who I respect professionally and personally. They represent the next generation of industry leadership that is focused on sustainable and technologically advanced business practices that will drive long term value and shareholder returns,” said DeRosa.