INDUS Announces Chief Financial Officer Transition
July 19 2021 - 6:19AM
INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the
“Company”), a U.S. based industrial/logistics REIT,
announced today that Anthony J. Galici, Executive Vice President
and Chief Financial Officer, plans to retire after a distinguished
24-year career as the Company’s Chief Financial Officer. Mr. Galici
will continue to serve as Executive Vice President and CFO of the
Company to assist INDUS’s management team with the transition until
his retirement on December 31, 2021.
“On behalf of the Board of Directors and the
entire INDUS team, I want to thank Anthony for his exceptional
leadership and dedication to our Company over the past 24 years,”
said Michael Gamzon, President and Chief Executive Officer of
INDUS. “Anthony has been instrumental to our success with a steady
focus on supporting our growth, developing and managing our
finance, treasury and human resources functions, and leading our
teams by example with a consistent and rigorous work ethic. We wish
him a long, happy and well-deserved retirement.”
“Looking back on my career with INDUS, I could
not be more proud of our accomplishments,” said Mr. Galici. “It has
truly been a pleasure to participate in the evolution of the
Company, and I appreciate the relationships that I’ve developed,
especially with my talented team, INDUS’s senior leadership and
Board of Directors, and the investment community. I wish INDUS many
years of continued success.”
As part of its succession plan for the CFO role,
the Board of Directors announced that effective on September 1,
2021, Jon W. Clark will join INDUS as Executive Vice President to
work with Mr. Galici prior to his retirement. Mr. Clark will assume
the additional role of Chief Financial Officer effective on January
1, 2022. Mr. Clark joins INDUS from Rockhill Management, LLC
(“Rockhill”), where he has served as Chief Accounting Officer since
2019. Prior to joining Rockhill, Mr. Clark was with Gramercy
Property Trust (“Gramercy”) for 12 years, most recently as the
Chief Financial Officer and Treasurer, prior to its acquisition by
affiliates of Blackstone Real Estate Partners VIII L.P. in 2018.
Prior to joining Gramercy, Mr. Clark worked at BlackRock Financial
Management where he oversaw the accounting and finance department
for real estate debt products. Mr. Clark holds a B.B.A. degree in
Accountancy from Western Michigan University, a Masters in
Accounting from the University of Massachusetts-Amherst and is a
Certified Public Accountant.
“I am pleased to welcome Jon Clark to the INDUS
team,” said Mr. Gamzon. “Jon brings a wealth of financial and
operational REIT experience to our executive leadership team,
having served as Gramercy’s CFO during its transition into one of
the largest publicly-traded, industrial-focused REITs at the time
of its sale. I look forward to working with Jon as we continue to
execute on INDUS’s growth strategy and seek to create long-term
stockholder value.”
About INDUS
INDUS is a real estate business principally
engaged in developing, acquiring, managing and leasing
industrial/logistics properties. INDUS owns 42 buildings totaling
approximately 5.1 million square feet (including 32
industrial/logistics buildings aggregating approximately 4.7
million square feet) in Connecticut, Pennsylvania, North Carolina
and Florida in addition to over 3,400 acres of undeveloped
land.
Forward-Looking Statements:
This Press Release includes “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 forward-looking statements include
INDUS’s beliefs and expectations regarding future events or
conditions including, without limitation, statements regarding
INDUS’s future growth and strategy. Although INDUS believes that
its plans, intentions and expectations reflected in such
forward-looking statements are reasonable, it can give no assurance
that such plans, intentions or expectations will be achieved. The
forward-looking statements disclosed herein are based on
assumptions and estimates that, while considered reasonable by
INDUS as of the date hereof, are inherently subject to significant
business, economic, competitive and regulatory uncertainties and
contingencies, many of which are beyond the control of INDUS and
which could cause actual results and events to differ materially
from those expressed or implied in the forward-looking statements.
Other important factors that could affect the outcome of the events
set forth in these statements are described in INDUS’s Securities
and Exchange Commission filings, including the “Business,” “Risk
Factors” and “Forward-Looking Statements” sections in INDUS’s
Annual Report on Form 10-K for the fiscal year ended November 30,
2020, filed with the SEC on February 18, 2021. INDUS disclaims any
obligation to update any forward-looking statements as a result of
developments occurring after the date of this press release except
as required by law.
CONTACT:Anthony
GaliciChief Financial
Officer(860) 286-1307
agalici@indusrt.com
Ashley PizzoVice President - Capital
Markets & Investor Relations(212)
218-7914 apizzo@indusrt.com
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