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. He was a visionary who saw the need of integrating senior housing into the healthcare continuum years before COVID, and now we all know the importance of that today and going forward, he said. Our need-based product will likely see meaningful traction and demand.. On behalf of the entire Board of Directors, I want to sincerely thank Tom for his lasting contributions to the Company. This could lead to lower occupancies and rent roll down as long-term customers are replaced with new customers at lower rates. . Mr. Williams received an undergraduate degree, cum laude, from Harvard University and a J.D. 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. 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. Those expenses were related to higher labor costs and spending on personal protective equipment and other supplies. Last updated: 5 January 2023 at 5:03pm EST. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments, before assuming his most recent roles. Mitra will retain his CIO title and continue to lead Welltowers data analytics-driven capital allocation and operator relationships. 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 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. WELLTOWER INC. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Occupancy in Welltowers total seniors housing operating portfolio declined 150 basis points in the third quarter, or 30 basis points through Oct 23. Welltower, a real estate investment trust (REIT), owns interests in properties concentrated in major, high growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing, post-acute communities and outpatient medical properties. 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. 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. Bacon has served as RailFields managing partner since his retirement from the Federal National Mortgage Association (Fannie Mae) inMarch 2012. All of our forward-looking statements, including those in this press release, are qualified in their entirety by this statement. These forward-looking statements speak only as of the date of this press release. We are encouraged by the relative stabilization of our operating performance and incredibly excited about the opportunity to deploy capital in attractive investment opportunities. free lookups / month. your request. He joined Welltower in 2016 as Senior Vice President, Finance, and served as Senior Vice President, Investments, Executive Vice President, Vice Chairman, and Chief Operating Officer before assuming his current role. Shankh Mitra - Chief Executive Officer John Burkart - Chief Operating Officer Tim McHugh - Chief Financial Officer Conference Call Participants Vikram Malhotra - Mizuho Steve Sakwa - Evercore. View Bio. Welltower executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. The full content of this article is only available to paid subscribers. 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 served as Welltowers Senior Vice President - Investments from January 2018 to August 2018. 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. 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. 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. During his first earnings call as CEO of Welltower, Shankh Mitra said the Toledo, OH-based real estate investment trust's strategy will not change. He currently serves on the board of trustees of ProMedica Health System as well as ProMedica Senior Care (formerly HCR ManorCare). Welltower Inc. (NYSE:WELL), an S&P 500 company headquartered inToledo, Ohio, is driving the transformation of health care infrastructure. An associated email address for Shankha is l*****@sbcglobal.net. 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. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments . In this role, Mr. Bacon will lead the Board and partner with Mr. Mitra and the leadership team as they execute the Companys strategy to create long-term shareholder value. He also served as a Senior Analyst at Citadel Investment Group and Fidelity Investments. Shankh Mitra is currently Director, Chief Executive Officer and Chief Investment Officer at Welltower - View - Welltower org chart error was encountered while trying to use an ErrorDocument to handle the request. No credit card required. The server encountered an internal error or Get updates on the latest news impacting senior living through our Argentum Daily newsletter. With our highly-motivated team and an ultra-strong balance sheet, we are well positioned to drive significant long-term value for shareholders. 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. 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. The REIT expects such expenses to remain elevated during the pandemic. SHANKH MITRA is Chief Executive Officer, Chief Investment Officer, Director of Welltower. 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. He also held Senior Analyst positions at Citadel Investment Group and Fidelity Investments after beginning his career at PricewaterhouseCoopers. Find contact details for 700 million professionals. Mr. Shankh Mitra is an Independent Trustee at Public Storage, a Director, Chief Executive & Investment Officer at Welltower, Inc. and a . Welltowers COVID-19 expenses were about $17 million for the third quarter and $61 million for the year as of Sept. 30. Matt McQueen. 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. Welltower is in a very strong position today and has a bright future. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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. Our headquarters are located in Glendale, California. He is on the Board of Directors at Public Storage, Welltower, Inc., ProMedica Health Systems, Inc. and HCR ManorCare, Inc. Mr. Mitra was previously employed as a Portfolio Manager by Millennium Management, Inc. and an Analyst by Pyramis Global Advisors LLC. I would also like to thank Uri, Wayne, and Executive Vice President - General Counsel & Corporate Secretary . He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments, before assuming his most recent roles. Mr. Williams is a seasoned public and private company director with extensive corporate governance expertise and currently serves as President of the National Association of Corporate Directors (NACD) Chicago Chapter. He received his undergraduate degree from Jadavpur University and an MBA from Columbia Business School. Over the last five years, Matt, Tim and I have been working closely together alongside Jeff and Ken. 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. The companies were formed over a thirty-three year period with the most recent being incorporated five months ago in February of 2022. 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.. Mr. Bacon is a co-founder of RailField Realty Partners, a financial advisory and asset management firm. Public Storage and Elliott Associates, L.P. (Elliott) have had constructive discussions in recent weeks. 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. Eight of the companies are still active while the remaining sixteen are now listed as inactive. To subscribe, please click here: SUBSCRIBE, Posted in Breaking News, Companies & People, REIT Report. Im truly excited for Welltowers future and will be cheering for the Companys continued success in the years to come.. Coronavirus Tips Working and Protection. 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). Over the last five years, Matt, Tim and I have been working closely together alongside Jeff and Ken. The largest trade he's ever made was exercising 25,444 units of Welltower stock on 15 February 2022 worth over $1,714,671. 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. Mitra said Welltower has more than $1 billion of acquisitions in its pipeline and that they represent a wide range of transactions. Shankh Mitra Chief Executive Officer Welltower Inc. New York, New York, United States Found 6 emails: welltower.com gmail.com yahoo.com citadelgroup.com gsb.columbia.edu us.pwc.com Found phones: 6 available on +Phone plans Michael Fachetti Chief Executive Officer - Chief Executive Officer United Commerce Solutions New York, New York, United States 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 This information is according to proxy statements filed for the 2021 fiscal year. degree from the London School of Economic and Political Science, and a bachelor's degree in Anthropology from Stanford University. As the Chief Executive Officer, Chief Investment Officer, and Director of Welltower, the total compensation of Shankh Mitra at Welltower is $5,728,140. 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. Mr. Mitra began his career at PricewaterhouseCoopers. 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. There are no executives at Welltower getting paid more. Mitra has also served as senior vice president, finance, and then as senior vice president, investments, before assuming his most recent roles. Wood's Ark Invest nearly liquidates Silvergate Capital position, Musk bets big on beating shareholders at 'funding secured' trial, Investor Peltz, corporate doctor, pushes Disney to take bitter pill, BYD's Shares Fall After Warren Buffett Cuts Stake in Company Again, Shares of Ant-controlled companies, Alibaba rise after Jack Ma gives up control, Arnault tightens family grip on LVMH as daughter becomes Dior CEO, Circles: Another Bayer investor wants to split up - share price rises, Credit Suisse nears deal to buy Michael Klein's advisory firm - Bloomberg News, Investor Fundsmith accuses Unilever of 'virtue signalling' and prioritising Peltz, Cucinelli tops forecast with near 30% sales jump in 2022, Transcript : Welltower Inc., Q3 2022 Earnings Call, Nov 08, 2022, Transcript : Welltower Inc., Q2 2022 Earnings Call, Aug 10, 2022, Transcript : Welltower Inc., Q1 2022 Earnings Call, May 11, 2022, Transcript : Welltower Inc. Presents at Citi's 26th Annual Global Property CEO Conference 2022, Mar-08-2022 11:15 AM, Transcript : Welltower Inc., Q4 2021 Earnings Call, Feb 16, 2022, Transcript : Welltower Inc., Q3 2021 Earnings Call, Nov 05, 2021, Transcript : Welltower Inc., Q2 2021 Earnings Call, Jul 30, 2021, Member-Real Estate & Infrastructure Counsel. Previously, he was a member of the board of directors of Bentall Kennedy L.P., until its acquisition by Sun Life Financial ofCanadain 2015, and of Forest City Realty Trust, Inc., until its acquisition byBrookfieldin 2018. When typing in this field, a list of search results will appear and be automatically updated as you type. Mr. Mitra received an MBA fromColumbia Business Schoolspecializing in Applied Value Investing and a bachelors degree in Engineering from Jadavpur University. 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. Shankh Mitra is 39, he's been the Chief Executive Officer, Chief Investment Officer, and Director of Welltower since 2020. and the actions you performed just before this error. He serves on the MBA Real Estate Program Advisory Board at Columbia University and as a trustee of Americold Realty Trust (NYSE:COLD). All proxy statements are public filings made available to the general public by the SEC. Shankh Mitra joined Welltower in 2016. 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. 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