Published: 4\/15\/2014 - Updated: 5 hours ago <\/p>\n
BY JON CHAVEZ BLADE BUSINESS WRITER <\/p>\n
George L. Chapman, chief executive officer of Health Care REIT Inc., the billion-dollar real estate investment trust based in Toledo, on Monday announced his retirement, effective immediately. <\/p>\n
Health Care REIT said Thomas J. DeRosa, 56, a director of the company since 2004, would become its new CEO. <\/p>\n
The company said that Mr. Chapman, 66, who also is chairman and president, is stepping down to focus on his health and to give attention to personal and civic commitments. <\/p>\n
In an interview Monday, Mr. DeRosa said Mr. Chapman told the board recently he has a nonlife-threatening health issue that he needs time to take care of, as well as focusing on his family. <\/p>\n
Mr. Chapman will become a senior adviser to the company, which is traded on the New York Stock Exchange under the ticker symbol HCN. <\/p>\n
Jeffrey Donahue, who was Health Care REITs lead independent director, will replace Mr. Chapman as board chairman. The title of president will be vacated. <\/p>\n
A company spokesman said while Mr. Chapman had decided not to discuss his retirement decision, he did issue a statement. <\/p>\n
It has been an honor to lead HCN, its talented management team, and dedicated employees over the past two decades. I am extremely proud of what we have accomplished together, and I am confident HCN is well-positioned to succeed, Mr. Chapman said. While I will miss my day-to-day role at HCN, now is the right time for me to move on and serve the company in a different capacity. <\/p>\n
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Health Care REITs CEO exits<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Published: 4\/15\/2014 - Updated: 5 hours ago BY JON CHAVEZ BLADE BUSINESS WRITER George L. Chapman, chief executive officer of Health Care REIT Inc., the billion-dollar real estate investment trust based in Toledo, on Monday announced his retirement, effective immediately. Health Care REIT said Thomas J. Continue reading