Over the past five years, Shankhs investing and operational acumen, complemented by the significant efforts ofTim McHugh,Matt McQueenand a deep bench of senior leaders at Welltower, have put the Company in a position of strength. Over the last five years, Matt, Tim and I have been working closely together alongside Jeff and Ken. We Found 1 Results For Shankha Mitra. Bacon joined Welltowers board of directors in 2016. After the end of the quarter, in October, the company closed in the first tranche, including 11 properties, for $90 million. We have the utmost confidence in Shankh's strategic vision and leadership and believe he is the right person to guide Welltower as it continues to successfully navigate the current environment and pursue the exciting next phase of growth for the Company. Mr. Neithercut is a former Chairman and member of the Advisory Board of Governors of the National Association of Real Estate Investment Trusts (Nareit) and formerly served on the Policy Advisory Board of the Joint Center for Housing Studies at Harvard University. He currently serves on the board of trustees of ProMedica Health System as well as ProMedica Senior Care (formerly HCR ManorCare). Last updated: 5 January 2023 at 5:03pm EST. shankh mitra wifethirteen days cast Posted by on December 20, 2021 (In this Subhashita author by the use of a Simile, friendship with . We have the utmost confidence in Shankhs strategic vision and leadership and believe he is the right person to guide Welltower as it continues to successfully navigate the current environment and pursue the exciting next phase of growth for the Company., Mr. Mitra said, I am humbled and honored to serve as CEO of Welltower and to lead this remarkable team as we embark on the next chapter of our journey. All statements in this press release, other than statements of historical fact, are forward-looking statements which may be identified by the use of the words expects, believes, anticipates, should, estimates and similar expressions. Cision Distribution 888-776-0942 Please contact the server administrator at Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause Welltower's actual results to differ materially from Welltower's expectations discussed in the forward-looking statements. Close more info about New Welltower CEO remains committed to wellness infrastructure, On the Money (formerly Dealmakers Handbook), McKnights Women of Distinction Awards and Forum content, ACHCA to revive assisted living credentialing program, Insurance company argues against defending senior living operator in wrongful death suit, Former nursing director able to embezzle $420,000 after computer access not cut off when she was fired, What senior living can learn from the Southwest Airlines debacle, Senior living is doing a great and largely unnoticed job, Rockwood, Doyenne JV to invest $100M in senior living communities, Court sets aside parts of NLRB union election rule. You can see the complete history of Mr. Mitra stock trades at the bottom of the page. Request an invite to Revere to access this complete profile and connect with 500+ development firms today. No credit card required. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Following these changes, the Board will have appointed five independent Trustees within the last 18 months. Mr. Bacon received an MBA fromHarvard Business School, a Master of Science (M.Sc.) His vision of reimagining and reinventing the built environment for effective delivery of health care and wellness services has played an instrumental role in transforming Welltower into the worlds largest health and wellness real estate platform. Mitra, who has been serving as vice chair, COO and chief investment officer, succeeds Thomas J. DeRosa, who is stepping down as chairman and CEO after leading Welltower for more than six years. I look forward to bringing my expertise to the Board to help advance Public Storages strategic initiatives and drive value for its shareholders, employees and loyal customers.. Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. As of 26 April 2022 he still owns at least 7,208 units of Welltower stock. TOLEDO, Ohio,Oct. 5, 2020/PRNewswire/ Welltower Inc. (NYSE:WELL) today announced that Shankh Mitra has been appointed Chief Executive Officer and will join the Board of Directors, effectiveOctober 5, 2020. We observed such a trend during the recessionary circumstances of 2009; however, to date we have not seen any material change in the move-out patterns of long-term customers; risk of negative impacts on the cost and availability of debt and equity capital as a result of the COVID Pandemic, which could have a material impact upon our capital and growth plans; the impact of competition from new and existing self-storage and commercial facilities and other storage alternatives; the risk that our existing self-storage facilities may be at a disadvantage in competing with newly developed facilities with more visual and customer appeal; risk related to increased reliance on Google as a customer acquisition channel; difficulties in our ability to successfully evaluate, finance, integrate into our existing operations and manage properties that we acquire directly or through the acquisition of entities that own and operate self-storage facilities; risks associated with international operations including, but not limited to, unfavorable foreign currency rate fluctuations, changes in tax laws and local and global economic uncertainty that could adversely affect our earnings and cash flows; risks related to our participation in joint ventures; the impact of the legal and regulatory environment, as well as national, state and local laws and regulations including, without limitation, those governing environmental issues, taxes, our tenant reinsurance business, and labor, including risks related to the impact of new laws and regulations; risks of increased tax expense associated either with a possible failure by us to qualify as a REIT, or with challenges to the determination of taxable income for our taxable REIT subsidiaries; risks due to a November 2020 California ballot initiative (or other equivalent actions) that could remove the protections of Proposition 13 with respect to our real estate and result in substantial increases in our assessed values and property tax bills in California; changes in United States federal or state tax laws related to the taxation of REITs and other corporations; security breaches or a failure of our networks, systems or technology could adversely impact our operations or our business, customer and employee relationships or result in fraudulent payments; risks associated with the self-insurance of certain business risks, including property and casualty insurance, employee health insurance and workers compensation liabilities; difficulties in raising capital at a reasonable cost; delays and cost overruns on our projects to develop new facilities or expand our existing facilities; ongoing litigation and other legal and regulatory actions which may divert managements time and attention, require us to pay damages and expenses or restrict the operation of our business; and economic uncertainty due to the impact of war or terrorism. Biography of Shankh Mitra Mr. Shankh Mitra is an Independent Trustee at Public Storage, a Director, Chief Executive & Investment Officer at Welltower, Inc. and a Member-Real Estate & Infrastructure Counsel at The World Economic Forum USA, Inc. document.addEventListener( 'DOMContentLoaded', function () {const newsletterAsset = new HMIRegistration({ publicationId: 47, pubName: "McKnight's Senior Living", view: 'newsletter-asset', bootstrap: document.getElementById('newsletter-asset'), formType : "user-initiated",pubType: "business"});newsletterAsset.mount();}); Please login or register first to view this content. 2020 Public Storage. Mr. Neithercut said, I have long respected Public Storages leadership in both the self-storage sector and real estate generally. Finally, Welltower undertakes no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise, or to update the reasons why actual results could differ from those projected in any forward-looking statements. Shankh Mitra serves as Chief Executive Officer, Chief Investment Officer, Director of the Company. The exception right now, he said, is in independent living, where he said people are taking their time to make a decision. Or to subscribe to the monthly HREI magazine for even more comprehensive news and analysis, please click here. in the server error log. We wish them all the best in their future endeavors., The Public Storage Board continuously reviews our Board composition to ensure that we are aligned with the interests of our stakeholders, and todays announcement follows engagement and input from our shareholders, added Mr. Havner. The server encountered an internal error or Mr. Mitra earned an MBA in Applied Value Investing with Deans List honors from Columbia Business School (CBS) and holds a bachelors degree in engineering from Jadavpur University. Welltower Inc. (NYSE: WELL) has announced that it has named Shankh Mitra as Chief Executive Officer and he also joined the Board of Directors. ", Mr. Mitra said, "I am humbled and honored to serve as CEO of Welltower and to lead this remarkable team as we embark on the next chapter of our journey. Shankh and I have worked shoulder-to-shoulder over the last five years and I have witnessed his strong leadership, relentless focus on organizational efficiency and unparalleled approach to capital allocation. Eight of the companies are still active while the remaining sixteen are now listed as inactive. Shankh Mitra is currently Director, Chief Executive Officer and Chief Investment Officer at Welltower - View - Welltower org chart Shankh is deeply passionate about capital allocation, the mentoring of early career professionals and predictive analytics in the area of statistical learning and machine learning. I am grateful to Tom for his mentorship and partnership and I deeply appreciate the confidence and trust the Board and my colleagues have placed in me, said Mr. Mitra. Mr. Mitra will retain his CIO title and continue to lead Welltowers data analytics-driven capital allocation and operator relationships. Mr. Mitra received an MBA fromColumbia Business Schoolspecializing in Applied Value Investing and a bachelors degree in Engineering from Jadavpur University. Revere is an invite-only digital network for commercial real estate professionals looking to buy or sell a building, finance a project, and expand their network. Bacon has served as RailFields managing partner since his retirement from the Federal National Mortgage Association (Fannie Mae) inMarch 2012. On behalf of the entire Board of Directors, I want to sincerely thank Tom for his lasting contributions to the Company. Shankh Mitra Biography Mr. Mitra joined Welltower in 2016 and has served as the Company's Chief Investment Officer since 2018, adding the roles of Vice Chair and Chief Operating Offer in. "While COVID-19 has presented us with many challenges, the past six months have underscored Welltower's core value proposition: to serve as a strategic, nimble and creative capital allocator by leveraging our operator relationships and data platform. The company also announced thatKenneth J. Bacon, who has been serving as an independent director on the board since 2016, has been named chairman. At September 30, 2020, we had: (i) interests in 2,504 self-storage facilities located in 38 states with approximately 171 million net rentable square feet in the United States, (ii) an approximate 35% common equity interest in Shurgard Self Storage SA (Euronext Brussels:SHUR) which owned 239 self-storage facilities located in seven Western European nations with approximately 13 million net rentable square feet operated under the Shurgard brand and (iii) an approximate 42% common equity interest in PS Business Parks, Inc. (NYSE:PSB) which owned and operated approximately 28 million rentable square feet of commercial space at September 30, 2020. The chart on this page features a breakdown of the total annual pay for Shankh Mitra, Chief Executive Officer & Chief Investment Officer at WELLTOWER INC. as reported in their proxy statements. View source version on businesswire.com: your request. Mr. Mitra received an MBA from Columbia Business School specializing in Applied Value Investing and a bachelor's degree in Engineering from Jadavpur University. Coronavirus Tips Working and Protection. I am excited to work alongside my fellow Trustees to further the Companys focus on long-term resilience and execute on its strategic growth initiatives.. Welltower Appoints Shankh Mitra Chief Executive Officer. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments, before assuming his most recent roles. The communities will be operated by StoryPoint Senior Living under a new triple-net master lease. We are pleased to welcome Shankh, David, and Paul to the Board, said Ronald L. Havner, Jr., Chairman of the Board of Public Storage. Forward-Looking Statements and Risk Factors. We expressly disclaim any obligation to update publicly or otherwise revise any forward-looking statements, whether because of new information, new estimates, or other factors, events or circumstances after the date of these forward looking statements, except when expressly required by law. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. On average, Shankh trades about 1,651 units every 36 days since 2017. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. ", Mr. DeRosa commented, "I am proud of our many accomplishments during my time as CEO and thankful to the Board and the entire Welltower team for allowing me to pursue my vision. Welltower operators expect to receive about $45 million in CARES Act Provider Relief Funds in the fourth quarter after HHS expanded eligibility of funding to assisted living communities. The oldest executive at Welltower Inc. is JeffreyDonahue, 73, who is the Lead Independent Director. With deep real estate investing experience, corporate governance expertise, and proven track records as public company leaders and board members, they will bring valuable perspectives and skillsets that complement those of our current Trustees. We are encouraged by the relative stabilization of our operating performance and incredibly excited about the opportunity to deploy capital in attractive investment opportunities. Sign up for a free account. No credit card required. On behalf of the entire Board of Directors, I want to sincerely thank Tom for his lasting contributions to the Company. I look forward to working with Shankh, David, Paul and the entire Board to achieve these objectives as we continue to create long-term value for Public Storage shareholders., Mr. Mitra said, Public Storage has built a nationally recognized brand and unmatched scale in the self-storage industry. The REIT also reported that 96% of its communities are accepting new residents. Executive Vice President - General Counsel & Corporate Secretary . Shankh Mitra joined Welltower in 2016. The only carbon fibre supercar in. Chief Executive Officer @ Welltower Inc. (NYSE:WELL). As Chief Executive Officer & Chief Investment Officer at WELLTOWER INC., Shankh Mitra made $12,753,710 in total compensation. Storage, Public Mr. Neithercut received an M.B.A. from the Columbia University Graduate School of Business. This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. For its 2021 fiscal year, WELLTOWER INC., listed the following CEO pay ratio data on its annual proxy statement to the SEC. Also since the last earnings call, Welltower also entered into an agreement to acquire a portfolio of 25 assisted living and memory care communities located throughout the Midwest. Mr. Shankh Mitra is an Independent Trustee at Public Storage, a Director, Chief Executive & Investment Officer at Welltower, Inc. and a . Prior to forming RailField, Mr. Bacon spent 19 years at Fannie Mae, most recently serving as the Executive Vice President of the multifamily mortgage business fromJuly 2005toMarch 2012. Mr. Mitra is primarily responsible for capital allocation decisions at Welltower, and brings over a decade of experience in investments, finance and real estate to the Company. The Board is pleased to appoint Shankh as CEO, continued Donahue. There are no executives at Welltower getting paid more. We have created something unique at Welltower, and as a result, have become the leading health and wellness real estate platform. Shankh Mitra, David Neithercut, and Paul Williams Bring Significant Financial, Real Estate Investing, and Corporate Governance Expertise and Leadership Experience. In todays environment, innovation and efficiency are more important than ever, and I strongly believe Public Storage is well-positioned to leverage these competitive advantages to capture the opportunities ahead. Mr. Mitra, who has been serving as Vice Chair, Chief Operating Officer and Chief Investment Officer, succeeds Thomas J. DeRosa, who is stepping down as Chairman and CEO after leading Welltower for more than six years. Argentum is the leading national trade association serving companies that own, operate, and support professionally managed senior living communities in the United States. Mitra who has been serving as Vice Chair, Chief Operating Officer, and Chief Investment Officer is succeeding Thomas J. DeRosa. We are encouraged by the relative stabilization of our operating performance and incredibly excited about the opportunity to deploy capital in attractive investment opportunities. Shankh Mitra Biography. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Search over 700 Public Storage (NYSE:PSA) announced today the appointment of three new members to its Board of Trustees, effective January 1, 2021, including: The Company also announced that three current Trustees, Uri P. Harkham, B. Wayne Hughes, Jr., and Daniel C. Staton, have decided to retire from the Board effective December 31, 2020. When Welltower uses words such as may, will, intend, should, believe, expect, anticipate, project, pro forma, estimate or similar expressions that do not relate solely to historical matters, Welltower is making forward-looking statements. Mr. Shankh Mitra is an Independent Trustee at Public Storage, a Director, Chief Executive & Investment Officer at Welltower, Inc. and a Member-Real Estate & Infrastructure Counsel at The World Economic Forum USA, Inc. TOLEDO, Ohio, Oct. 5, 2020 /PRNewswire/ --Welltower Inc. (NYSE: WELL) today announced that Shankh Mitra has been appointed Chief Executive Officer and will join the Board of Directors, effective October 5, 2020. Mr. Mitra served as Welltowers Senior Vice President - Finance & Investments from January 2016 to January 2018. Of this total $1,000,039 was received as a salary, $3,920,000 was received as a bonus, $1,500,088 was received in stock options, $5,999,991 was awarded as stock and $333,592 came from other types of compensation. Mitra received an MBA fromColumbia Business Schoolspecializing in applied value investing and a bachelors degree in engineering from Jadavpur University. WELLTOWER INC. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Earlier this month, it sold a portfolio of senior housing properties operated by Northbridge Companies for $200 million, rationing a 20% investment in the portfolio. He said he expects the other four properties to transition to the new operator by the end of the year. Mr. Mitra, who has been serving as Vice Chair, Chief Operating Officer and Chief Investment Officer, succeedsThomas J. DeRosa, who is stepping down as Chairman and CEO after leading Welltower for more than six years. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. McHugh mentioned the transition of five of the planned nine properties from Capital Senior Living to StoryPoint Senior Living as part of the first phase of an agreement with Capital Senior Living. His vision of reimagining and reinventing the built environment for effective delivery of health care and wellness services has played an instrumental role in transforming Welltower into the world's largest health and wellness real estate platform. Mr. Williams previously served on the boards of directors of State Auto Financial Corporation, Bob Evans Farms, Inc., and Essendant, Inc. (f/k/a United Stationers Inc.). We will continue to take actions that we believe will enable the successful execution of our strategy to deliver long-term value for our shareholders, customers, and employees., The Board and management team remain focused on our key strategic initiatives, enabling us to build on our strong foundation and drive innovation across our platform, said Joe Russell, President and Chief Executive Officer of Public Storage. All rights reserved. Prior to joining Equity Residential, Mr. Neithercut served as Senior Vice President of Finance for Equity Group Investments. Shankh Mitra Biography Mr. Mitra joined Welltower in 2016 and has served as the Company's Chief Investment Officer since 2018, adding the roles of Vice Chair and Chief Operating Offer in April 2020. He is a frequent speaker on investment topics and a regular contributor to leadership, health care, value investing, real estate, career, and alumni affairs at Columbia. In April, we elevated Shankh to the roles of Vice Chair and COO with the intent that he would ultimately succeed Tom as CEO. He was Executive Vice PresidentCorporate Strategy of the Company from January 2004 to May 2005, and Executive Vice President and Chief Financial Officer of the Company from February 1995 to August 2004. The full content of this article is only available to paid subscribers. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When Welltower uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "pro forma," "estimate" or similar expressions that do not relate solely to historical matters, Welltower is making forward-looking statements. million verified professionals across 35 million companies. He also held Senior Analyst positions at Citadel Investment Group and Fidelity Investments after beginning his career at PricewaterhouseCoopers. Copyright 2023 Haymarket Media, Inc. All Rights Reserved This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. We are encouraged by the relative stabilization of our operating performance and incredibly excited about the opportunity to deploy capital in attractive investment opportunities. After careful thought and consideration of the Companys current position and opportunities ahead, the Board and I have decided that now is the right time for me to hand the reins to Shankh. While COVID-19 has presented us with many challenges, the past six months have underscored Welltowers core value proposition: to serve as a strategic, nimble and creative capital allocator by leveraging our operator relationships and data platform. Welltower is in a very strong position today and has a bright future., Mr. DeRosa commented, I am proud of our many accomplishments during my time as CEO and thankful to the Board and the entire Welltower team for allowing me to pursue my vision. Although the last seven months have been very challenging for the senior housing triple net operators, the sequential stabilization we saw between the second and third quarter, along with relief funds from [the Department of Health and Human Services] to be received in the fourth quarter, should help our operators find their footing heading into 2021, said Tim McHugh, executive vice president and chief financial officer. Alexandria, VA 22314 A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. Over the past five years, Shankhs investing and operational acumen, complemented by the significant efforts ofTim McHugh,Matt McQueenand a deep bench of senior leaders at Welltower, have put the company in a position of strength. Those expenses were related to higher labor costs and spending on personal protective equipment and other supplies. There is no executive better suited to lead Welltower at this critical juncture. Welltower Inc. (NYSE:WELL), an S&P 500 company headquartered inToledo, Ohio, is driving the transformation of health care infrastructure. Shankh Mitra. (703) 894-1805. In this role, Bacon will lead the board and partner with Mitra and the leadership team as they execute the companys strategy to create long-term shareholder value. There is no executive better suited to lead Welltower at this critical juncture. Mr. Bacon is a member of the Board of Directors of Comcast Corporation having previously served as Lead Independent Director and Ally Financial Inc. Shankh Mitra Biography Mr. Mitra joined Welltower in 2016 and has served as the Company's Chief Investment Officer since 2018, adding the roles of Vice Chair and Chief Operating Offer in April 2020. international 9200i parts / shankh mitra wife. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause Welltowers actual results to differ materially from Welltowers expectations discussed in the forward-looking statements. Click here to register for our FREE healthcare real estate and/or life sciences real estate e-newsletters. Im truly excited for Welltowers future and will be cheering for the companys continued success in the years to come.. We have the utmost confidence in Shankhs strategic vision and leadership and believe he is the right person to guide Welltower as it continues to successfully navigate the current environment and pursue the exciting next phase of growth for the Company.. ", Mr. Bacon added, "I am honored to be named Chairman and look forward to working with Shankh and the rest of the highly-experienced leadership team and Board to build upon the foundation Tom laid and deliver significant per-share growth to our shareholders. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. error was encountered while trying to use an ErrorDocument to handle the request. He received his undergraduate degree from Jadavpur University and an MBA from Columbia Business School. The Company also announced that Kenneth J. Bacon, who has been serving as an Independent Director on the Board since 2016, has been named Chairman.
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