HCP, Inc. (NYSE: HCP) Executive Vice President and Chief Financial Officer, Thomas M. Herzog, announced his resignation, effective May 15, 2011, to pursue new opportunities and business challenges within the real estate industry.
HCP said that Herzog will remain a consultant to the company until February 15, 2012, in order to provide an orderly transition.
“Tom has been a dedicated member of HCP and we greatly appreciate his efforts and contributions, especially the further development of our outstanding accounting, finance and tax team” said Jay Flaherty, HCP’s Chairman and Chief Executive Officer. “On behalf of our Board of Directors and HCP, I want to thank Tom for his service to the Company.”
HCP is a real estate investment trust (REIT) that invests primarily in real estate serving the healthcare industry in the US. As of December 31, 2010, the Company’s portfolio of investments, including properties owned by its Investment Management Platform, consisted of: (i) interests in 672 facilities among the following segments: 251 senior housing, 102 life science, 253 medical office, 45 post-acute/skilled nursing and 21 hospital; and (ii) $2.0 billion of mezzanine and other secured loans.
“I have appreciated the opportunity to work with Jay and the many other fine and capable professionals of HCP. I am pleased with HCP’s accomplishments during my tenure,” said Herzog. “The Company is performing admirably and has a bright future ahead so this is a good time to move to the next phase of my career. It has been a rewarding experience and I wish the HCP team great continued success.”