Essential Properties Realty Trust, Inc. Announces Retirement Of Paul T. Bossidy, Chairman Of The Board, And Appointment Of Scott A. Estes As New Board Chair, Effective As Of December 31, 2023
Portfolio Pulse from Benzinga Newsdesk
Essential Properties Realty Trust, Inc. (EPRT) announced the retirement of Chairman Paul T. Bossidy, effective December 31, 2023, and the appointment of Scott A. Estes as the new Board Chair. Bossidy's retirement is not due to any disagreement with the company's operations or practices. The Board will be reduced from eight to seven members. CEO Mavoides praised Bossidy's contributions and expressed confidence in Estes, who has extensive REIT industry experience and has served in leadership roles at Welltower, Inc. (WELL) and is involved with JBG SMITH Properties (JBGS) and American Healthcare REIT (AHTR).
November 13, 2023 | 1:25 pm
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Scott A. Estes, who will become EPRT's Board Chair, is also a member of the board of directors and audit committee chairman of American Healthcare REIT (AHTR).
Estes' role at AHTR is part of his REIT experience. The news focuses on EPRT and is not likely to have a direct short-term impact on AHTR's stock.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
EPRT's Chairman Paul T. Bossidy will retire at the end of 2023, and Scott A. Estes will take over as the new Board Chair. The transition is part of a planned succession with no disagreements cited.
Leadership changes are significant but since the transition appears smooth and planned, the short-term impact on EPRT's stock is likely to be neutral.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
Scott A. Estes, the new Chairman of EPRT, is also a member of the board of trustees and audit committee chairman of JBG SMITH Properties (JBGS).
Estes' association with JBGS is mentioned as part of his professional background. This news is primarily about EPRT and is not expected to impact JBGS's stock in the short term.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
Scott A. Estes, who has been appointed as the new Chairman of EPRT, previously served as EVP and CFO of Welltower, Inc. (WELL), bringing extensive experience to his new role.
Estes' past role at WELL is mentioned to highlight his experience. This news is more relevant to EPRT and is unlikely to have a direct short-term impact on WELL's stock.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 30