CAPREIT ANNOUNCES SENIOR MANAGEMENT CHANGE

About this update from Canadian Apartment Properties Real Estate Investment Trust

[{"type":"text","content":"\n \n \n \n CAPREIT ANNOUNCES SENIOR MANAGEMENT CHANGE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Feb. 28, 2022\n \n /CNW/ - Canadian Apartment Properties Real Estate Investment Trust (\"CAPREIT\") (TSX: CAR.UN) announced today that Mr.\n \n Scott Cryer\n \n has decided to leave CAPREIT, effective\n \n April 15, 2022\n \n , to pursue other opportunities after a distinguished twelve-year career at CAPREIT, and over a decade serving as its Chief Financial Officer.\n \n \n A formal search process is underway to appoint Mr. Cryer's successor and both internal and external candidates will be evaluated. Mr. Stephen Co will be assuming the position as CAPREIT's Interim CFO after a six-week transition period. Mr. Co has been with CAPREIT since 2011, and currently holds the position of Vice President, Accounting. In addition, Mr. Co is the Chief Financial Officer of European Residential REIT (\"ERES REIT\") (TSX:ERE.UN), a role he assumed in\n \n January 2021\n \n , replacing Mr. Cryer who had been ERES REIT's first CFO. Previously, Mr. Co worked at PricewaterhouseCoopers LLP in the assurance practice servicing clients in the real estate sector. He holds a Bachelor of Business Administration degree from the\n \n University of Toronto\n \n , a Chartered Professional Accountant (CPA, CA) designation and is also a Chartered Financial Analyst (CFA) Charterholder.\n \n \n \"On behalf of the Board of Trustees and everyone at CAPREIT, I want to thank Scott for his years of service and contribution to CAPREIT. During his tenure, Scott helped CAPREIT through a transformative period which saw CAPREIT grow from a market capitalization of\n \n $1 billion\n \n to\n \n $9.4 billion\n \n , and during which time we expanded into\n \n Europe\n \n and built an industry leading balance sheet that is well positioned for continued growth. He has been a valuable member of our senior management team, as well as serving as the first CFO for both IRES REIT and ERES REIT, and we wish him every success in his future endeavors,\" com...

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