CareTrust REIT Welcomes New Leadership and Key Promotions
CareTrust REIT Strengthens Leadership Team
CareTrust REIT, Inc. (NYSE: CTRE) has made significant strides in its leadership, announcing key appointments and promotions aimed at bolstering its executive suite for continued success. Effective January 1, 2025, Lauren Beale will step into the role of Chief Accounting Officer (CAO). This marks a milestone as she becomes the first CAO in the company’s history after serving in various leadership positions since CareTrust's inception.
Tribute to Lauren Beale's Contributions
Dave Sedgwick, the Chief Executive Officer, expressed sincere appreciation for Lauren's contributions, “On behalf of the Board and all of us at CareTrust, I express our gratitude for the tremendous impact Lauren has had on building the company since the beginning.” Bill Wagner, the Chief Financial Officer, reaffirmed this sentiment, emphasizing that Lauren’s elevation to CAO reflects her extensive commitment and hard work in shaping CareTrust since its founding.
New Appointments in the Investment Team
In addition to Lauren's new role, Tri Tran joins the company as the Senior Vice President of Investments. Tri brings a wealth of experience in investing in Triple Net Skilled Nursing and Assisted Living properties, along with Seniors Housing Operating Properties (SHOP). James Callister, the Chief Investment Officer, expressed excitement about Tri's addition, stating, “We have long admired and respected Tri and are thrilled he has joined us. We are fortunate to complement and reinforce our existing investment team with Tri’s reputation, experience, and skill set.”
Promotions to Enhance Operations
The announcement also includes significant promotions within the team, with Stephanie Singer being appointed as Vice President of Financial Reporting and Michael Sotelo promoted to Controller, effective the same day. Mr. Sedgwick remarked on the timely nature of these changes, saying, “The timing is perfect for Lauren’s promotion, Tri’s start, Stephanie and Michael’s promotions, and recent additions to the team as we look to build on the extraordinary growth of the recent year.”
Looking Towards Future Growth
As CareTrust REIT focuses on future expansions and opportunities, the strengthened leadership team is positioned to capitalize on the ongoing growth in the healthcare real estate sector. With a dedicated commitment to enhancing their strategies, the leadership team aims to foster stability and innovation within the company while addressing the dynamic needs of the markets they serve. With the addition of experienced professionals like Lauren and Tri, CareTrust aims to further its mission of providing high-quality care facilities and innovative housing solutions for seniors.
About CareTrust REIT
CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust that focuses on owning, acquiring, developing, and leasing skilled nursing, seniors housing, and healthcare-related properties. With a diverse nationwide portfolio of long-term net-leased properties and an expanding network of quality operators, CareTrust REIT aims to pursue growth through external partnerships and organic growth strategies. The company's approach is geared toward advancing the care it provides through its facilities, reflecting a commitment to excellence in the healthcare sector.
Frequently Asked Questions
What is the recent leadership change in CareTrust REIT?
CareTrust REIT announced Lauren Beale as the new Chief Accounting Officer and Tri Tran as the Senior Vice President of Investments.
When are the new appointments effective?
The new roles will be effective as of January 1, 2025.
Who are the individuals promoted in the organization?
Stephanie Singer was promoted to Vice President of Financial Reporting, and Michael Sotelo was named Controller.
What is the mission of CareTrust REIT?
CareTrust REIT focuses on the ownership and operation of healthcare and elder care facilities, aiming to provide quality services and enhance growth opportunities.
Why is the leadership restructuring important for CareTrust REIT?
The restructuring aims to strengthen the company’s executive capabilities and support its ongoing growth in the real estate and healthcare sectors.
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