National Health Investors (NYSE: NHI) President and CEO Justin Hutchens is switching roles in the senior housing investor playing field, announcing his resignation today to join HCP, Inc. (NYSE: HCP) as the company’s chief investment officer for senior housing and care.
Hutchens’ resignation, effective August 11, also includes the resignation from his position as a member of the company’s board of directors; however, he will remain at NHI through August to ensure a smooth transition amid his departure, the company stated in a release Tuesday.
Upon his departure, NHI’s Eric Mendelsohn, who serves as executive vice president of corporate finance, has been appointed interim president and CEO while the company conducts a search to replace Hutchens.
“I am proud of the work done over the past seven years to grow and diversify NHI and believe NHI is well positioned for the future.” Hutchens said in a written statement. “I remain excited about the direction of the company and wish the entire NHI team all the best.”
Hutchens will assume his new role as HCP’s executive vice president and chief investment officer for senior housing and care on September 8.
“We welcome Justin to HCP and look forward to his leadership of our senior housing and post-acute/hospital portfolios,” said Lauralee Martin, HCP’s president and CEO in a prepared written statement. “Justin is an accomplished executive with a proven track record in REIT investments and senior care operations. We are excited to bring Justin on board to complement our experienced team.”
Hutchens’ career at NHI dates back to his initial employment at the company in 2009, and he has served as the company’s president and CEO since 2011. He brings with him over 20 years of investing and operating experience in senior care to HCP, including multi-site management of assisted living and skilled nursing facilities, as well as national experience with Summerville Senior Living and Emeritus Senior Living.
“Since joining NHI in 2009, Justin’s efforts have positively impacted all facets of our operations and his presence on our Board has supplied additional leadership towards the growth of our company,” said Andy Adams, chairman of NHI’s board of directors. “His presence has strengthened our organization and positioned us well for the opportunities we have ahead of us.”
Written by Jason Oliva