HCP Names New COO, Makes Other Leadership Changes

Irvine, California-based real estate investment trust (REIT) HCP, Inc. (NYSE: HCP) announced the appointment of new executives on Wednesday, marking the latest in a series of leadership changes that have been made over the past year.

Tom Klaritch, HCP’s current senior managing director—medical office, has been promoted to COO, effective immediately. Also, Doug Pasquale will serve as HCP’s new senior advisor to the executive team and will work with the senior housing team, led by Kendall Young, senior managing director.

Additionally, Jon Bergschneider, HCP senior managing director—life science, resigned and will be transitioning to a role as chief development officer at BioMed Realty Trust.


Comings and goings at HCP

After HCP announced in May 2016 that it would spin off its struggling skilled nursing portfolio, it also began introducing a new leadership team in a new phase the company called “HCP 3.0.”

Former HCP CEO Lauralee Martin stepped down in July 2016 and then-Chief Financial Officer Tom Herzog was elected CEO in November. At the same time, Chief Investment Officer Justin Hutchens became the company’s president, but left after just four months to become CEO of HC-One, one of the largest home care operators in the U.K.


In January of this year, Peter Scott was named HCP’s new executive vice president and CFO.

In May, Kai Hsaio, the company’s executive vice president—senior housing properties, announced that he would be departing as well, just one year after joining HCP.

New appointments

As the new COO, Klaritch will oversee the life science and medical office businesses that report to him and will work with both departments to enhance their performance and growth. He will report directly to Tom Herzog, HCP’s president and CEO.

Klaritch has worked at HCP for 18 years, and has 34 years of operational and financial management experience in the medical office and hospital sectors.

Before joining HCP as a senior advisor, Pasquale was the chairman and CEO of Nationwide Health Properties, Inc., a Newport Beach, California-based REIT that invests in senior housing real estate. He was also president and CEO of Atria Senior Living Group, a Louisville, Kentucky-based senior housing operator, and its predecessor company, ARV Assisted Living, Inc.

Written by Elizabeth Jakaitis

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