CNL Healthcare Trust, Inc. Announces Executive Changes
April 19, 2012 at 03:32 pm EDT
Share
On April 13, 2012, the Board of Directors of CNL Healthcare Trust, Inc. accepted the resignation of Robert A. Bourne as Vice Chairman of the Board, Director and Treasurer of the Company effective immediately. On the same date, the Board appointed with immediate effect Thomas K. Sittema as its Vice Chairman of the Board and Director and accepted Mr. Sittema's resignation as Chief Executive Officer of the Company. Also on April 13, 2012, the Board appointed with immediate effect Stephen H. Mauldin as the Company's Chief Executive Officer and accepted Mr. Mauldin's resignation as Chief Operating Officer, which position was left unfilled. Mr. Mauldin will retain his title as President of the Company. On the same date, the Board appointed Joseph T. Johnson as Treasurer of the Company with immediate effect. Mr. Johnson will retain his titles as Senior Vice President and Chief Financial Officer of the Company. Also on April 13, 2012, the Board accepted the resignation of Robert J. Woody as an independent director of the Company with immediate effect; increased the number of directors of the Company to six and appointed with immediate effect Michael P. Haggerty and J. Douglas Holladay as independent directors of the Company and Mr. Haggerty as a member of the Board's Audit Committee.
CNL Healthcare Properties, Inc. is a real estate investment trust (REIT). The Company operates through a single segment, real estate ownership, which consists of owning, managing, leasing, acquiring, developing, investing in, and as conditions warrant, disposing of real estate assets. The Companyâs seniors housing investment portfolio consisted of interests in 70 properties, consisting of a geographically diversified portfolio of 69 seniors housing communities and one vacant land parcel. The types of seniors housing properties that the Company owns include independent and assisted living facilities, continuing care retirement communities and Alzheimerâs/memory care facilities. It has primarily leased its seniors housing properties to wholly owned CHP TRS Holding, Inc. (TRS) entities and engaged independent third-party managers to operate the properties. It is externally managed and advised by CNL Healthcare Corp.