IRVINE, Calif., April 3, 2017 /PRNewswire/ -- HCP (NYSE:HCP)
announced today that its President, Justin
Hutchens, will be leaving HCP to become the Chief Executive
Officer of HC-One, one of the largest and most recognized care home
providers in the United Kingdom. Mr. Hutchens will remain in
his current role at HCP through June
1 to ensure a smooth transition of his duties and to assist
with HCP's first quarter earnings announcement.
Mr. Hutchens joined HCP in 2015, and has served as President
since January 2017. Prior to that, he served as Executive
Vice President and Chief Investment Officer. HCP has
initiated the process of recruiting a new Chief Investment Officer
and has retained Russell Reynolds Associates, a leading global
executive search firm.
"On behalf of the Board of Directors and the entire company, I
would like to express my sincere gratitude to Justin for his
significant contributions to HCP and to congratulate him on this
exciting career opportunity," said Mike
McKee, Executive Chairman of HCP. "Though we are
disappointed to lose such a talented and experienced executive, we
are fortunate that Justin has helped build a strong operational
infrastructure within HCP, backed by a deep pool of talent, that
positions us well for future growth. We look forward to
continuing to work with Justin, both through the transition and in
his new role at our client HC-One, and we wish him every
success."
Tom Herzog, Chief Executive
Officer of HCP added, "Justin is a trusted colleague and a true
partner valued by every member of our leadership team. We
developed a great working relationship as we navigated a
transformative year in 2016, led by the spin-off of Quality Care
Properties and other strategic initiatives. I am thankful for
his many contributions and have every confidence that Justin will
excel in his new role."
"While the opportunity to become the CEO of HC-One is
exceptionally exciting to me, this was nonetheless a difficult
decision given my extremely rewarding experience at HCP," said Mr.
Hutchens. "I've been fortunate to work with a management team
and Board of Directors of exceptionally high caliber, and I believe
HCP's portfolio has been repositioned to achieve great success.
I'm proud of my contributions and remain highly confident in
HCP's growth prospects moving forward."
About HCP
HCP, Inc. is a fully integrated real estate investment trust
(REIT) that invests primarily in real estate serving the healthcare
industry in the United States. HCP
owns a large-scale portfolio diversified across multiple sectors,
led by senior housing, life science and medical office. Recognized
as a global leader in sustainability, HCP has been a
publicly-traded company since 1985 and was the first healthcare
REIT selected to the S&P 500 index. For more information
regarding HCP, visit www.hcpi.com.
Forward-Looking Statements
Statements in this release that are not historical factual
statements are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements include, among other things, statements relating to the
resignation of Justin Hutchens and
the search for a Chief Investment Officer. All
forward-looking statements are made as of the date hereof, are not
guarantees of future performance and are subject to known and
unknown risks, uncertainties, assumptions and other factors — many
of which are out of our and our management's control and difficult
to forecast — that could cause actual results to differ materially
from those set forth in or implied by such forward-looking
statements. These risks and uncertainties include but are not
limited to: the possibility that HCP and Mr. Hutchens agree to a
different effective resignation date or a change in his
responsibilities. You should not place undue reliance on any
forward-looking statements. We assume no, and hereby disclaim
any, obligation to update any forward-looking statements as a
result of new information or new or future developments, except as
otherwise required by law.
Contact
Andrew Johns
Vice President – Finance and Investor Relations
(949) 407-0400
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SOURCE HCP, Inc.