CHICAGO--(BUSINESS WIRE)--Apr. 25, 2014--
Ventas, Inc. (NYSE: VTR) (“Ventas” or the “Company”) today announced
that Executive Vice President and Chief Financial Officer Richard A.
Schweinhart has stated his intention to retire at the end of 2014. Mr.
Schweinhart, who turns 65 this year, will continue in his current
position through the end of the year to ensure a smooth transition. The
Company also stated that it has initiated a national search for a new
CFO and will consider internal and external candidates.
“Rick has been an essential and valued member of our executive
management team since he joined Ventas in 2002, bringing with him a deep
understanding of healthcare and extensive experience building and
leading top-notch finance and accounting functions,” Ventas Chairman and
Chief Executive Officer Debra A. Cafaro said. “Rick’s contributions to
Ventas’s success have been immeasurable. We are deeply grateful for his
dedication and leadership and pleased that he will remain with the
Company to ensure a seamless transition.”
Mr. Schweinhart is retiring after leading Ventas’s finance activities
for the past dozen years. He joined the Company in 2002 in his current
role and, during his tenure, the Company completed over $21 billion in
acquisitions and expanded its market capitalization from $900 million to
$19 billion. Mr. Schweinhart’s highly successful 43-year career in
healthcare finance included serving as CFO or in senior accounting and
financial roles for Kindred Healthcare, Inc., Columbia/HCA Healthcare
Corporation, Galen Health Care, Inc. and Humana Inc.
“Ventas’s growth has been extraordinary, and I am gratified to have been
part of the Company’s success since 2002,” Mr. Schweinhart said. “I have
great confidence in the outstanding accounting, finance and information
technology team we have in place to build on our record of excellence
and our strong financial condition.”
Ventas, Inc., an S&P 500 company, is a leading real estate investment
trust. Its diverse portfolio of nearly 1,500 assets in the United
States, Canada and the United Kingdom consists of seniors housing
communities, medical office buildings, skilled nursing and other
facilities, and hospitals. Through its Lillibridge subsidiary, Ventas
provides management, leasing, marketing, facility development and
advisory services to highly rated hospitals and health systems
throughout the United States. More information about Ventas and
Lillibridge can be found at www.ventasreit.com
here to subscribe to Mobile Alerts for Ventas, Inc.
Source: Ventas, Inc.
Lori B. Wittman