SAN DIEGO, Jan. 29, 2020 /PRNewswire/ -- Realty Income
Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, today announced that its EVP, Chief Financial
Officer and Treasurer Paul Meurer is
leaving the company. To ensure a smooth transition, Mr. Meurer will
serve as a senior advisor to the company through March 31,
2020. Sean Nugent, the company's
Senior Vice President, Controller, will serve as Principal
Financial Officer and Treasurer, until such time as the company
appoints a new Chief Financial Officer. The company has begun a
search for a new Chief Financial Officer.
"Paul has been instrumental in executing on our company's growth
strategy, identifying and bringing in many qualified people who
have strengthened our company and judiciously looking after our
capital markets needs," said Sumit
Roy, Realty Income's President and Chief Executive Officer.
"I want to thank Paul for his valued partnership and tremendous
contributions to the company over the many years," he continued. "I
want to further thank Paul for his dedication to the company and
his ongoing support through a thoughtful transition."
"On behalf of the Board, I want to thank Paul for his service to
Realty Income," said Michael McKee,
Chairman of the Board of Directors. "He has been a trusted partner
in building this company into what it is today. We wish him the
very best in his next endeavors."
"It has been an honor and a privilege to be associated with
Realty Income for over 25 years," Mr. Meurer said. "I thoroughly
enjoyed serving as an investment banking advisor during the
company's initial NYSE listing in 1994 and their early growth as a
public company. Since joining Realty Income as Chief Financial
Officer in 2001, I have participated in the company's growth from
approximately 1,100 properties and $1.0
billion in total market capitalization to an S&P 500
company today with over 5,900 properties and approximately
$34 billion in total market
capitalization. I thank my colleagues for their tireless work as
fiduciaries on behalf of all Realty Income stakeholders. It has
been an absolute pleasure to serve alongside you. I am focused on
ensuring a smooth transition at Realty Income and am excited for
the company's future."
The company reaffirms its previously announced 2019 AFFO per
share guidance of $3.29 to
$3.34.
About the Company
Realty Income, The Monthly Dividend Company®, is an
S&P 500 company dedicated to providing stockholders with
dependable monthly income. The company is structured as a REIT, and
its monthly dividends are supported by the cash flow from over
5,900 real estate properties owned under long-term lease agreements
with commercial tenants. To date, the company has declared 595
consecutive common stock monthly dividends throughout its 51-year
operating history and increased the dividend 105 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
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, domestic and foreign real estate conditions, tenant
financial health, the availability of capital to finance planned
growth, continued volatility and uncertainty in the credit markets
and broader financial markets, changes in foreign currency exchange
rates, property acquisitions and the timing of these acquisitions,
charges for property impairments, and the outcome of any legal
proceedings to which the company is a party, 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.
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SOURCE Realty Income Corporation