Leadership Changes at UDR, Inc. Enhance Strategic Operations
UDR, Inc. (NYSE: UDR), a premier multifamily real estate investment trust, has recently made significant executive management promotions, which are set to take effect on January 1, 2025. These changes are poised to strengthen the company's operational framework.
Promotions to Key Roles
Mike Lacy has been elevated to the position of Chief Operating Officer (COO). Having joined UDR in 2006, he previously held the role of Senior Vice President – Operations, where he played a pivotal role in refining the operational strategies of the company. His extensive experience in various operational capacities has enabled him to contribute greatly to implementing critical initiatives at UDR.
Appointment of New Chief Investment Officer
In conjunction with Mike’s promotion, Joe Fisher has been appointed as the Chief Investment Officer (CIO) while maintaining his roles as President and Chief Financial Officer (CFO). Mr. Fisher has been with UDR as CFO since 2017 and his new responsibilities will include overseeing essential investment strategies and development functions.
Search for New Chief Financial Officer
To further enhance the company's leadership team, UDR will be conducting a search for a new Chief Financial Officer. Once a qualified candidate is recruited, Mr. Fisher will step down from his CFO responsibilities but will continue to guide the organization as President and CIO. This transition reflects UDR's dedication to ensuring its leadership aligns with its strategic goals.
Leadership Expressions of Gratitude
Tom Toomey, Chairman and CEO of UDR, expressed his gratitude towards Joe and Mike, acknowledging their vital contributions and leadership qualities that have significantly enriched the company culture and value creation. His statement emphasized the need for robust leadership during this transformative phase, highlighting the importance of operational excellence and investment foresight.
About UDR, Inc.
UDR, Inc. (NYSE: UDR) has been a reputable figure in the multifamily real estate investment landscape, recognized as part of the S&P 500. The company boasts a strong record of delivering reliable returns by managing, developing, and redeveloping high-quality residential properties throughout targeted markets in the U.S. With ownership in over 60,123 apartment homes as of the end of September 2024, UDR has been uncompromising in its commitment to provide outstanding service to its residents and create value for its shareholders for over 52 years.
Frequently Asked Questions
What are the recent leadership changes at UDR, Inc.?
UDR, Inc. has promoted Mike Lacy to Chief Operating Officer and Joe Fisher to Chief Investment Officer, while also searching for a new Chief Financial Officer.
Who is the new Chief Operating Officer?
Mike Lacy has been promoted to the position of Chief Operating Officer after serving as Senior Vice President – Operations since 2019.
What roles will Joe Fisher continue to hold?
Joe Fisher will maintain his roles as President and Chief Investment Officer after stepping down as Chief Financial Officer.
How has Tom Toomey reacted to these promotions?
Tom Toomey expressed his appreciation for Joe and Mike's contributions, emphasizing their roles in fostering a positive company culture.
What is UDR, Inc.'s operational focus?
UDR, Inc. focuses on managing, buying, selling, and developing multifamily properties to provide superior returns to shareholders.
