SAN DIEGO, Feb. 14, 2024 /PRNewswire/ -- Realty Income
Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, today announced that Jeff A. Jacobson will be joining Realty Income's
Board of Directors (the "Board"), effective February 21, 2024. Ronald
L. Merriman has also announced his intention to retire from
the Board and to not stand for reelection at Realty Income's 2024
annual meeting of stockholders.
"On behalf of the Board, I want to recognize Ron for his
countless contributions to Realty Income, spanning nearly two
decades," said Michael D. McKee,
Realty Income's Non-Executive Chairman of the Board. "Realty Income
has achieved many significant milestones since Ron joined the Board
in 2005, including being added to the S&P 500 Dividend
Aristocrats Index®, expanding into Europe, and surpassing $10 billion in dividends paid. These
accomplishments were supported by Ron's leadership and guidance
throughout a range of economic cycles and evolution for the
company. We are deeply grateful for Ron's dedication, his
commitment to effective oversight, and his unwavering focus on
building value for our stockholders."
"Realty Income owes a debt of gratitude for Ron's impact to the
foundation of the company. His extensive knowledge and adaptable
approach to our business's development has added immeasurable
value," said Sumit Roy, President
and Chief Executive Officer. "I am also delighted to welcome Jeff
to our Board. Jeff's experience leading premier global real estate
asset management firms and his extensive relationships in the
industry will be a tremendous asset as we continue our path of
thoughtful growth."
Jeff A. Jacobson is a retired
Global Chief Executive Officer of LaSalle Investment Management,
("LaSalle"), the real estate investment arm of Jones Lang LaSalle
Inc. serving in the role from 2007 to 2021. Prior to this, he
served as LaSalle's European Chief Executive Officer from 2000 to
2006. Previously, Mr. Jacobson served in various leadership
positions with LaSalle and Security Capital Group, Inc., a real
estate holding company. Mr. Jacobson has over 35 years of real
estate investment experience. Specifically, during his tenure at
LaSalle, he sat on three regional investment committees in
North America, Europe and Asia. He has investment expertise in a variety
of geographic markets, asset sectors, investment structures, and
risk-return strategies. He currently serves as Chairman of the
Board of Cadillac Fairview Corporation, which he joined in 2022.
Cadillac Fairview is an owner,
operator, investor and developer of office, retail, multi-family
residential, industrial and mixed-use properties in North America and is wholly-owned by the
Ontario Teachers' Pension Plan. Mr. Jacobson is also a Senior
Adviser to The Vistria Group, a private investment firm focused on
investing in essential industries such as healthcare, financial
services and housing. Mr. Jacobson holds both a Bachelor of
Arts degree in economics and a Master of Arts degree from the Food
Research Institute from Stanford
University. Once Mr. Jacobson joins the Board, he is
expected to serve as a member of Realty Income's Audit Committee.
"I am excited to announce Jeff's addition to our Board," said
Michael D. McKee, Realty Income's
Non-Executive Chairman of the Board. "This appointment represents
Realty Income's commitment to maintaining a Board with skills that
are relevant to our growing business. Jeff's global real estate
expertise will be invaluable as Realty Income continues to expand
its footprint as a real estate partner to the world's leading
companies."
About Realty Income
Realty Income, The Monthly
Dividend Company®, is an S&P 500 company and member
of the S&P 500 Dividend Aristocrats® index. We
invest in people and places to deliver dependable monthly dividends
that increase over time. The company is structured as a REIT, and
its monthly dividends are supported by the cash flow from over
13,250 real estate properties primarily owned under long-term net
lease agreements with commercial clients. To date, the company has
declared 644 consecutive common stock monthly dividends
throughout its 55-year operating history and increased the dividend
123 times since Realty Income's public listing in 1994 (NYSE: O).
Additional information about the company can be obtained from the
corporate website at www.realtyincome.com.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Exchange
Act of 1934, as amended. When used in this press release, the words
"estimated," "anticipated," "expect," "believe," "intend,"
"continue," "should," "may," "likely," "plans," and similar
expressions are intended to identify forward-looking statements.
Forward-looking statements include discussions of our business and
portfolio (including our growth strategies, our intention to
acquire or dispose of properties including anticipated partners);
future operations and results; plans and the intentions of
management and the Board; trends in our business, including trends
in the market for long-term net leases of freestanding,
single-client properties. Forward-looking statements are subject to
risks, uncertainties, and assumptions about us which may cause our
actual future results to differ materially from expected results.
Some of the factors that could cause actual results to differ
materially are, among others, our continued qualification as a real
estate investment trust; general domestic and foreign business,
economic, or financial conditions; competition; fluctuating
interest and currency rates; inflation and its impact on our
clients and us; access to debt and equity capital markets and other
sources of funding; continued volatility and uncertainty in the
credit markets and broader financial markets; other risks inherent
in the real estate business including our clients' defaults under
leases, increased client bankruptcies, potential liability relating
to environmental matters, illiquidity of real estate investments,
and potential damages from natural disasters; impairments in the
value of our real estate assets; changes in domestic and foreign
income tax laws and rates; our clients' solvency; property
ownership through joint ventures and partnerships which may limit
control of the underlying investments; current or future epidemics
or pandemics, measures taken to limit their spread, the impacts on
us, our business, our clients (including those in the theater and
fitness industries), and the economy generally; the loss of key
personnel; the outcome of any legal proceedings to which we are a
party or which may occur in the future; acts of terrorism and war;
the realization of the anticipated benefits from the merger with
Spirit Realty Capital, Inc.; and those additional risks and factors
discussed in our reports filed with the U.S. Securities
and Exchange Commission. Readers are cautioned not to place undue
reliance on forward-looking statements. Forward-looking statements
are not guarantees of future plans and performance and speak only
as of the date of this press release. Actual plans and operating
results may differ materially from what is expressed or forecasted
in this press release. We do not undertake any obligation to update
forward-looking statements or publicly release the results of any
forward-looking statements that may be made to reflect events or
circumstances after the date these statements were made.
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SOURCE Realty Income Corporation