Forward-Looking Statements and Risk Factors. Mitra, who has been serving as vice chair, COO and chief investment officer, succeedsThomas J. DeRosa, who is stepping down as chairman and CEO after leading Welltower for more than six years. The REIT also reported that 96% of its communities are accepting new residents. (703) 894-1805. The information shown here is a reporting of information included in the company's proxy statement. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, https://welltower.com/october-business-update. Shankh Mitra has been promoted to CEO of Welltower and will join the company's board of directors effective immediately, the real estate investment trust announced late Monday.. 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. 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. Lead Independent DirectorJeffrey H. Donahuesaid, Tom and I have known each other for years and he has always been an extremely capable executive. Shankh Mitra Chief Executive Officer at Welltower Inc. (NYSE:WELL) New York, New York, United States 3K followers 500+ connections Join to connect Welltower Inc. (NYSE:WELL) Activity It is with. With our highly-motivated team and an ultra-strong balance sheet, we are well positioned to drive significant long-term value for shareholders., 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. free lookups / month. Search over 700 Tim McHugh. On average, Shankh trades about 1,651 units every 36 days since 2017. In April, we elevated Shankh to the roles of vice chair and COO with the intent that he would ultimately succeed Tom as CEO. Welltower Inc. (NYSE: WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. SHANKH MITRA corporate profile, background and performance evaluation including other Welltower executives 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.. As a veteran of the REIT space, I recognize the strength of Public Storages business and financial foundation, as well as the talent of the management team and Board. Mr. Bacon has served as RailFields managing partner since his retirement from the Federal National Mortgage Association (Fannie Mae) inMarch 2012. TOLEDO, Ohio, Oct. 5, 2020 /PRNewswire/ -- Welltower Inc. (NYSE: WELL) today announced that Shankh Mitra has been appointed Chief Executive Office. The server encountered an internal error or 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. Chief Executive Officer & Chief Investment Officer. Welltower today also issued a presentation on the Company's operations through September 30, 2020, which can be found at: https://welltower.com/october-business-update Highlights of the presentation include: 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. In April, we elevated Shankh to the roles of Vice Chair and COO with the intent that he would ultimately succeed Tom as CEO. shankh mitra wife . Cision Distribution 888-776-0942 Copyright Wolf Marketing & Media LLC 2002-2023 Healthcare Real Estate Insights. Prior to joining Welltower, Mr. Mitra was a Portfolio Manager investing in Real Estate Securities at Millennium Management, where he managed an accomplished team of investment professionals responsible for bottom-up underwriting of commercial real estate companies and portfolios, security selection, quantitative portfolio and risk management. degree from the London School of Economic and Political Science, and a bachelors degree in Anthropology fromStanford University. On record we show 3 phone numbers associated . A Date On Wheels - Shankha Mitra - YouTube Raghav Belavadi and Shankha Mitra jump in the car and head out to beat the stress in their new Ferrari 488 GTB. from 8 AM - 9 PM ET. 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. John Burkart. All rights reserved. misconfiguration and was unable to complete 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. He also served as a Senior Analyst at Citadel Investment Group and Fidelity Investments. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. 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. For more information, visitwelltower.com. Mr. Williams said, It is a privilege to be appointed to Public Storages Board of Trustees, and Im excited by the opportunity to build on the Companys long history of success. Speaking of the pandemic, Mitra said that as communities have resumed visitation, a significant improvement in move-ins has occurred. This may be a result of various factors, including, but not limited to: the duration and scope of the COVID-19 pandemic; the impact of the COVID-19 pandemic on occupancy rates and on the operations of Welltower and its operators/tenants; actions governments take in response to the COVID-19 pandemic, including the introduction of public health measures and other regulations affecting Welltowers properties and the operations of Welltower and its operators/tenants; the effects of health and safety measures adopted by Welltower and its operators/tenants related to the COVID-19 pandemic; increased operational costs as a result of health and safety measures related to COVID-19; the impact of the COVID-19 pandemic on the business and financial condition of operators/tenants and their ability to make payments to Welltower; disruptions to Welltowers property acquisition and disposition activity due to economic uncertainty caused by COVID-19; general economic uncertainty in key markets as a result of the COVID-19 pandemic and a worsening of global economic conditions or low levels of economic growth; the status of capital markets, including availability and cost of capital; uncertainty from the expected discontinuance of LIBOR and the transition to any other interest rate benchmark; issues facing the health care industry, including compliance with, and changes to, regulations and payment policies, responding to government investigations and punitive settlements and operators/tenants difficulty in cost effectively obtaining and maintaining adequate liability and other insurance; changes in financing terms; competition within the health care and seniors housing industries; negative developments in the operating results or financial condition of operators/tenants,including, but not limited to, their ability to pay rent and repay loans; Welltowers ability to transition or sell properties with profitable results; the failure to make new investments or acquisitions as and when anticipated; natural disasters and other acts of God affecting Welltowers properties; Welltowers ability to re-lease space at similar rates as vacancies occur; Welltowers ability to timely reinvest sale proceeds at similar rates to assets sold; operator/tenant or joint venture partner bankruptcies or insolvencies; the cooperation of joint venture partners; government regulations affecting Medicare and Medicaid reimbursement rates and operational requirements; liability or contract claims by or against operators/tenants; unanticipated difficulties and/or expenditures relating to future investments or acquisitions; environmental laws affecting Welltowers properties; changes in rules or practices governing Welltowers financial reporting; the movement of U.S. and foreign currency exchange rates; Welltowers ability to maintain Welltowers qualification as a REIT; key management personnel recruitment and retention; the impact of our senior leadership transition; and other risks described in Welltowers reports filed from time to time with the SEC. He also held Senior Analyst positions at Citadel Investment Group and Fidelity Investments after beginning his career at PricewaterhouseCoopers. 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.. 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. Shankh has made over 9 trades of the Welltower stock since 2018, according to the Form 4 filled with the SEC. The REIT expects such expenses to remain elevated during the pandemic. Mr. Mitra owns over 1,666 units of Welltower stock worth over $467,943 and over the last 5 years he sold WELL stock worth over $0. 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. Possible related people for Shankha Mitra include Rishika Elizabeth Kammerman, Deirdre Durbin Mitra, Devi Mitra, Shomya Graham Mitra, Shyamali Mitra. Previously, he was a member of the Board of Directors of Bentall Kennedy L.P. until its acquisition by Sun Life Financial of Canada in 2015 and Forest City Realty Trust, Inc. until its acquisition by Brookfield in 2018. Lead independent directorJeffrey H. Donahuesaid, Tom and I have known each other for years and he has always been an extremely capable executive. 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. Patricia A Antonucci, Colby Wayne Hartke, and eight other persons spent some time in this place. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Mitra said Welltower has more than $1 billion of acquisitions in its pipeline and that they represent a wide range of transactions. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. 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. No credit card required. The estimated Net Worth of Shankh Mitra is at least $6.21 Million dollars as of 26 April 2022. 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. The answer to that question is an emphatic no, he told analysts. We are encouraged by the relative stabilization of our operating performance and incredibly excited about the opportunity to deploy capital in attractive investment opportunities. He currently serves on the board of trustees of ProMedica Health System as well as ProMedica Senior Care (formerly HCR ManorCare). Mr. Shankh Mitra is an Independent Trustee at Public Storage, a Director, Chief Executive & Investment Officer at Welltower, Inc. and a . TOLEDO, OhioWelltower Inc. (NYSE:WELL) announced that Shankh Mitra has been appointed chief executive officer and will join the board of directors. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments, before assuming his most recent roles. 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. Welltower Inc. (NYSE: WELL) has announced that it has named Shankh Mitra as Chief Executive Officer and he also joined the Board of Directors. Chief Executive Officer @ Welltower Inc. (NYSE:WELL). 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. Following these changes, the Board will have appointed five independent Trustees within the last 18 months. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments, before assuming his most recent roles. million verified professionals across 35 million companies. Bachelor of Engineering (Electronics Engineering), If you're not automatically redirected, please click here. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). Mr. Mitra received an MBA fromColumbia Business Schoolspecializing in Applied Value Investing and a bachelors degree in Engineering from Jadavpur University. 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. Mr. Bacon is a member of the Board of Directors of Comcast Corporation having previously served as Lead Independent Director and Ally Financial Inc. From July 2013 to December 2015, Mr. Mitra served as Portfolio Manager, Real Estate Securities at Millennium Management. Request an invite to Revere to access this complete profile and connect with 500+ development firms today. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. Shankh Mitra serves as Chief Executive Officer, Chief Investment Officer, Director of the Company. We have created something unique at Welltower, and as a result, have become the leading health and wellness real estate platform. He also held senior analyst positions at Citadel Investment Group and Fidelity Investments after beginning his career at PricewaterhouseCoopers. In addition, he makes $5,728,140 as Chief Executive Officer, Chief Investment Officer, and Director at Welltower. Most recently he exercised 1,666 units of WELL stock worth $458,350 on 26 April 2022. . Over the last 5 years, insiders at Welltower have traded over $1,876,515 worth of Welltower stock and bought 3,587 units worth $192,115 Mr. Mitra is the Chief Executive Officer and Chief Investment Officer of Welltower Inc., and serves on the Companys Board of Directors. Mitra promised more personnel announcements. As of October 5, 2020, near-term liquidity totaled $5.3 billion. Over the last five years, Matt, Tim and I have been working closely together alongside Jeff and Ken. Mr. Mitra will retain his CIO title and continue to lead Welltowers data analytics-driven capital allocation and operator relationships. 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. Mr. Mitra received an MBA from Columbia Business School specializing in Applied Value Investing and a bachelor's degree in Engineering from Jadavpur University. to register for our FREE healthcare real estate and/or life sciences real estate e-newsletters. 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. Click here to register for our FREE healthcare real estate and/or life sciences real estate e-newsletters. Storage Blog, Commercial Real Coronavirus Tips Working and Protection. Mr. Williams is a member of the Economic Club of Chicago. The most recent stock trade was executed by Joshua Fieweger on 15 February 2022, trading 1,612 units of WELL stock currently worth $115,548. Mr. Neithercut received an M.B.A. from the Columbia University Graduate School of Business. Mitra who has been serving as Vice Chair, Chief Operating Officer, and Chief Investment Officer is succeeding Thomas J. DeRosa. Factors and risks that may impact future results and performance include, but are not limited to, those described in Part 1, Item 1A, Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the SEC) on February 25, 2020 and in our other filings with the SEC including: general risks associated with the ownership and operation of real estate, including changes in demand, risk related to development, expansion and acquisition of self-storage facilities, potential liability for environmental contamination, natural disasters and adverse changes in laws and regulations governing property tax, real estate and zoning; risks associated with downturns in the national and local economies in the markets in which we operate, including risks related to current economic conditions and the economic health of our customers; risks associated with the COVID Pandemic or similar events, including but not limited to illness or death of our employees or customers, negative impacts to the economic environment and to self-storage customers which could reduce the demand for self-storage or reduce our ability to collect rent, and/or potential regulatory actions to (i) close our facilities if we were determined not to be an essential business or for other reasons, (ii) limit our ability to increase rent or otherwise limit the rent we can charge or (iii) limit our ability to collect rent or evict delinquent tenants; risk that even after the initial restrictions due to the COVID Pandemic ease, they could be reinstituted in case of future waves of infection or if additional pandemics occur; risk that we could experience a change in the move-out patterns of our long-term customers due to economic uncertainty and the significant increase in unemployment in the last 30 days. 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. Or to subscribe to the monthly HREI magazine for even more comprehensive news and analysis, please click here. 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. 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. Public Storage Appoints Three New Independent Trustees, https://www.businesswire.com/news/home/20201213005046/en/, Business You may also find the annual proxy statement by going directly to the company's website. Mr. Williams received an undergraduate degree, cum laude, from Harvard University and a J.D. All proxy statements are public filings made available to the general public by the SEC. With our highly-motivated team and an ultra-strong balance sheet, we are well positioned to drive significant long-term value for shareholders., 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. We are encouraged by the relative stabilization of our operating performance and incredibly excited about the opportunity to deploy capital in attractive investment opportunities. Prior to forming RailField, he spent 19 years at Fannie Mae, most recently serving as the executive vice president of the multifamily mortgage business fromJuly 2005toMarch 2012. Mr. Mitra received an M.B.A. from Columbia Business School specializing in Applied Value Investing and a bachelor's degree in Engineering from Jadavpur University. The companies were formed over a thirty-three year period with the most recent being incorporated five months ago in February of 2022. On behalf of the entire board of directors, I want to sincerely thank Tom for his lasting contributions to the company. Shankh Mitra is Chief Executive Officer and Chief Investment Officer of Welltower Inc. and leads the Company's investments, structuring, development, predictive analytics, and asset management efforts. SHANKH MITRA is Chief Executive Officer, Chief Investment Officer, Director of Welltower. {{ userNotificationState.getAlertCount('bell') }}. 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. Shankh Mitra Net Worth The estimated Net Worth of Shankh Mitra is at least Welltower stock worth over $568,495 and over the last 5 years he sold . degree from the London School of Economic and Political Science, and a bachelor's degree in Anthropology from Stanford University. Lead Independent Director Jeffrey H. Donahue said, "Tom and I have known each other for years and he has always been an extremely capable executive. He also held Senior Analyst positions at Citadel Investment Group and Fidelity Investments after beginning his career at PricewaterhouseCoopers. webmaster@goodearthhempcompany.themarketgarden.com to inform them of the time this error occurred, Over the last five years, Matt, Tim and I have been working closely together alongside Jeff and Ken. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments . DeRosa is stepping down as Chairman and CEO after leading Welltower . He is a member of the board of directors of Comcast Corporation, having previously served as lead independent director, and of Ally Financial Inc. Shankh Mitra Biography. Up to 5 As of Oct. 23, 94% of Welltowers senior housing communities reported no confirmed coronavirus cases, 5% reported one to two cases, and 1% have three or more cases. He received his undergraduate degree from Jadavpur University and an MBA from Columbia Business School. Executive Vice President - General Counsel & Corporate Secretary . 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. After careful thought and consideration of the Company's 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. https://www.businesswire.com/news/home/20201213005046/en/. We have created something unique at Welltower, and as a result, have become the leading health and wellness real estate platform. During his first earnings call as CEO of Welltower, Shankh Mitra said the Toledo, OH-based real estate investment trusts strategy will not change. Over the last five years, Matt, Tim and I have been working closely together alongside Jeff and Ken. Prior to joining Welltower, he was a portfolio manager investing in real estate securities at Millennium Management, where he managed an accomplished team of investment professionals responsible for bottom-up underwriting of commercial real estate companies and portfolios, security selection, quantitative portfolio and risk management. 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. "Welltower will continue to strive to be the premier wellness infrastructure company that allocates capital in the path of . in the server error log. Shankh Mitra has been associated with twenty-four companies, according to public records. As Chief Executive Officer & Chief Investment Officer at WELLTOWER INC., Shankh Mitra made $12,753,710 in total compensation. I would like to thank our Nominating/Corporate Governance Committee for its continued work and diligence, and I am confident these new Trustees are the right additions to our Board. In April, we elevated Shankh to the roles of Vice Chair and COO with the intent that he would ultimately succeed Tom as CEO. 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 peoples wellness and overall health care experience. 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.. Occupancy in Welltowers total seniors housing operating portfolio declined 150 basis points in the third quarter, or 30 basis points through Oct 23. Welltower is in a very strong position today and has a bright future. He was a Senior Analyst at Citadel Investment Group and Fidelity Investments and began his career at PricewaterhouseCoopers where he served several global clients. In connection with those discussions, Elliott confidentially submitted, before the nomination deadline of December 12, 2020, the names of six nominees for election to the Public Storage Board of Trustees. Shankh Mitra. On average, Welltower executives and independent directors trade stock every 37 days with the average trade being worth of $584,264. Additionally, a 500 Internal Server Error He is the retired Vice President, Chief Legal Officer and Corporate Secretary of Cardinal Health, Inc. and served as Managing Director of Allegis Partners and as a Partner and Managing Director of Major, Lindsey & Africa, LLC, an executive recruiting firm, from 2005 until his retirement in 2018. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. The company expects spot occupancy to decline 75 to 125 basis points in the fourth quarter, relative to Sept. 30. Shankh Mitra - Chief Executive Officer John Burkart - Chief Operating Officer Tim McHugh - Chief Financial Officer Conference Call Participants Vikram Malhotra - Mizuho Steve Sakwa - Evercore. error was encountered while trying to use an ErrorDocument to handle the request. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Mr. Bacon is a co-founder of RailField Realty Partners, a financial advisory and asset management firm. Reit also reported that 96 % of its communities are accepting new residents analysis, please click.! Self-Storage sector and real estate e-newsletters Investment opportunities as Chairman and CEO after leading Welltower Group... Senior Vice President, Investments Chief Investment Officer is succeeding Thomas J. DeRosa to the Form 4 filled the... 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