Business
Northwest Healthcare Properties REIT Announces CEO Craig Mitchell's Planned Retirement in Mid-2025 and Commences Search for Successor
Toronto, Ontario--(Newsfile Corp. - October 8, 2024) - Northwest Healthcare Properties Real Estat...
About this update from Vital Infrastructure Property Trust
[{"type":"text","content":"Northwest Healthcare Properties REIT Announces CEO Craig Mitchell's Planned Retirement in Mid-2025 and Commences Search for SuccessorToronto, Ontario--(Newsfile Corp. - October 8, 2024) - Northwest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the 'REIT' or 'Northwest'), a leading owner and operator of healthcare real estate infrastructure in North America, Brazil, Europe and Australasia, today announces Chief Executive Officer, Craig Mitchell, has advised the Board of his intention to retire in mid-2025. The REIT has commenced a recruitment search, assisted by a professional executive recruitment firm and led by the Board's Compensation, Governance and Nominating Committee, to ensure a seamless transition and onboarding of Craig's successor.Since joining Northwest over seven years ago, initially leading the Australian and New Zealand business to become the largest healthcare REIT in market, Craig expanded his role as Global President in charge of Property in all markets. He assumed the CEO position in August 2023, and successfully steered the REIT through its recently concluded Strategic Review process.Craig will continue as CEO through Q2 2025, focusing on executing the REIT's new strategy, further strengthening the balance sheet, simplifying the business, and ensuring a smooth leadership transition. Following his retirement, Craig will remain on the Board of New Zealand Stock Exchange listed Vital Healthcare Property Trust as a Northwest representative throughout 2025 to support continuity in the Australasia region. Board Chair, Dale Klein, commented: \"Craig has shown outstanding leadership at Northwest, navigating the REIT through a comprehensive strategic review, spearheading significant transactions, and strengthening our leadership team. His dedication, including an extensive travel schedule, has been integral to our success. The Board greatly appreciates Craig's commitment and the platform he has established. We look forward to his ongoing contributions through 2025 and a smooth transition in leadership.\"\"One of the key reasons for my decision to retire in mid-2025 is my expectation that our turnaround will be completed by then, allowing for a smooth transition to new leadership. I've had the privilege of working with many incredible people during my time at Northwest and am deeply proud of the hea...