Business
Crombie REIT Announces Retirement of Don Clow, Appointment of Mark Holly as President and Chief Executive Officer
Crombie REIT Announces Retirement of Don Clow, Appointment of Mark Holly as President and Chief E...
About this update from Crombie Real Estate Investment Trust
[{"type":"text","content":"\n \n \n \n Crombie REIT Announces Retirement of Don Clow, Appointment of Mark Holly as President and Chief Executive Officer\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 \n NEW GLASGOW, NS\n \n \n ,\n \n \n Feb. 22, 2023\n \n \n /CNW/ - Crombie Real Estate Investment Trust (\"Crombie\" or \"the REIT\") (TSX: CRR.UN) today announced that following a successful 13.5-year tenure as President and Chief Executive Officer (\"CEO\") of Crombie,\n \n Don Clow\n \n will retire as CEO on\n \n February 28, 2023\n \n . Concurrent with Mr. Clow's decision, the Board of Trustees of Crombie has appointed\n \n Mark Holly\n \n as President and CEO. Mr. Holly will assume his new role on\n \n March 1, 2023\n \n , and will also be appointed a Trustee of the REIT.\n \n \n \n \n \n \n \n \n \n \"On behalf of the Board of Trustees, I would like to extend our sincere gratitude and appreciation to Don, who has transformed Crombie from a traditional grocery-anchored retail landlord into a strategic owner and developer of grocery-anchored retail, retail-related industrial, and mixed-use residential properties across\n \n Canada\n \n ,\" says\n \n Michael Knowlton\n \n , Board Chair. \"Under Don's leadership, total Unitholder returns over the last three, five and 10 years have been sector-leading. He leaves the REIT in a far stronger position than when he arrived and has set us up for success as we embark on the next leg of our journey.\"\n \n \n \"For almost 14 years, I have had the privilege of serving as Crombie's President and CEO,\" says\n \n Don Clow\n \n . \"In my time at Crombie, I've worked with a team of high-performing, caring people who are incredibly dedicated to their work and to the communities in which we operate. Over five years ago, we set an ambitious strategic goal of completing six major development projects, all while maintaining our commitment to a strong balance sheet, optimal portfolio quality, and an enhanced relationship with our strategic partner, Empire. We have succeeded in achieving those goals and it is time for a new ...