Ventas, Inc. announced that Sumit Roy, president and chief executive officer of Realty Income Corporation has been appointed as an independent member of the company board of directors, effective October 1, 2022. Mr. Roy has also been appointed to serve on the Investment Committee of the company board. Mr. Roy, 53, is a highly accomplished REIT executive.

At Realty Income, he was appointed Chief Executive Officer in 2018 after being named President of the company in 2015. He previously served as Realty Income's Chief Operating Officer from 2014 to 2018, Chief Investment Officer from 2013 to 2014 and Chairman of the Investment Committee. Prior to Realty Income, Mr. Roy was an Executive Director at UBS Investment Bank, where he was responsible for more than $57 billion in real estate capital markets and advisory transactions.

The company also announced that Robert D. Reed, who has served as a director since 2008, will retire from the Board and not stand for re-election when his term expires at the company's 2023 Annual Meeting of Stockholders. With Mr. Roy's appointment, the company board will expand to 12 directors, 11 of whom are independent and 50% of whom identify as diverse by gender or ethnicity. The board is expected to once again comprise 11 directors following the company's 2023 Annual Meeting of Stockholders.