ESCONDIDO, Calif., Oct. 29, 2014 /PRNewswire/ -- Realty Income
Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, today announced that Stephen E. Sterrett, Senior Executive Vice
President and Chief Financial Officer of Simon Property Group, Inc.
(Simon, NYSE: SPG), has joined Realty Income's Board of Directors.
"We are pleased to welcome Steve to Realty Income's Board," said
Michael D. McKee, Chairman of the
Board of Directors. "Steve is extremely well-known in the industry
for his financial acumen and public real estate company experience.
Adding someone of his caliber and relevance in the REIT sector will
further enhance the existing capabilities of our board. We look
forward to working closely with Steve as he brings his unique
perspective and track record of excellence to our organization."
Commenting on Mr. Sterrett's election to the board, John P. Case, CEO, President, and Director,
said, "Steve is one of the most respected executives in our
industry having served as the CFO of the largest public real estate
company in the world for the last 14 years. Steve has
developed considerable expertise over many years by helping lead a
highly successful organization. Steve will be a valuable
contributor to our board as we continue to advance Realty Income's
business strategies and objectives."
Mr. Sterrett has served as Senior Executive Vice President at
Simon since 2011, and Chief Financial Officer since 2000. Mr.
Sterrett joined Simon in 1988 and became Senior Vice President and
Treasurer in 1993, just prior to the company's initial public
offering. Since that time, the company has completed over
$35 billion of acquisitions, growing
its revenues over tenfold to become the only real estate company in
the S&P 100 mega cap index today. For the past seven
consecutive years, Mr. Sterrett has been named the number one
ranked Chief Financial Officer in the real estate industry by
Institutional Investor Magazine. Simon has previously announced
that Mr. Sterrett intends to retire from his current position at
Simon.
Mr. Sterrett is a graduate of Indiana
University with a Bachelor of Science degree in Accounting
and a Master of Business Administration degree in Finance. He
currently serves on the boards of the Greater Indianapolis Chamber of Commerce, the
Indiana University Center for Real
Estate Studies and the Kelley School of Business Dean's Council. In
2012, he was inducted into the Academy of Fellows by the Kelley
School of Business at Indiana
University and in 2013, received the Jeffrey Fisher Real
Estate Legacy Award from Indiana
University.
About Realty Income
Realty Income is The Monthly
Dividend Company®, a New York Stock Exchange real estate
company dedicated to providing shareholders with dependable monthly
income. As of September 30, 2014, the
company had paid 530 consecutive monthly dividends throughout its
45-year operating history. The monthly income is supported by the
cash flows from over 4,200 properties owned under long-term lease
agreements with 231 leading regional and national commercial
tenants. The company is an active buyer of net-leased properties
nationwide. Additional information about the company can be
obtained from the corporate website at www.realtyincome.com or
www.twitter.com/realtyincome.
Forward-Looking Statements
Statements in this press release that are not strictly historical
are "forward-looking" statements. Forward-looking statements
involve known and unknown risks, which may cause the company's
actual future results to differ materially from expected results.
These risks include, among others, general economic conditions,
local real estate conditions, the availability of capital to
finance planned growth, continued volatility and uncertainty in the
credit markets and broader financial markets, property acquisitions
and the timing of these acquisitions, charges for property
impairments, the outcome of any legal proceedings to which the
company is a party, and the profitability of Crest, the company's
subsidiary, as described in the company's filings with the
Securities and Exchange Commission. Consequently, forward-looking
statements should be regarded solely as reflections of the
company's current operating plans and estimates. Actual operating
results may differ materially from what is expressed or forecast in
this press release. The company undertakes no obligation to
publicly release the results of any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date these statements were made.
Note to Editors: Realty Income press releases are
available on the internet at
www.realtyincome.com/invest/newsroom-library/press-releases.shtml.
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SOURCE Realty Income Corporation