• Push-out Score determined
• After about six years in the position
• Praise and thanks for Herzog
• Scott Brinker taking over
• Herzog said 95 words

(exechange) — Denver, Colorado, October 6, 2022 — Tom Herzog, chief executive of Healthpeak, leaves — as “mutually agreed.” As announced by Healthpeak Properties Inc. in a news release and in a regulatory filing published on Thursday, October 6, 2022, Thomas M. (Tom) Herzog leaves his post as chief executive officer at the real estate investment trust, after about six years in the role, effective immediately.

Tom Herzog’s duties as CEO will be taken over by Scott M. Brinker, most recently President and Chief Investment Officer at Healthpeak Properties Inc.

Tom Herzog’s move coincides with a management shake-up also involving the position of Chief Development Officer.

“To pursue other endeavors”

The management change is explained as follows. Healthpeak said: “Mr. Brinker succeeds Tom Herzog, who mutually agreed with the Board to step down as Chief Executive Officer and from the Board to pursue other endeavors.”

Precise information regarding Tom Herzog’s future plans was not immediately available.

“Step down”

Healthpeak said: “On October 6, 2022, Healthpeak Properties, Inc. (the “Company”) and Thomas M. Herzog mutually agreed that Mr. Herzog would step down from his position as Chief Executive Officer and from the board of directors (the “Board”) of the Company, effective immediately.”

“Not due to any disagreements”

“Mr. Herzog’s decision to step down was not due to any disagreements on any matter relating to the Company’s operations, policies or practices,” Healthpeak said.

Share price decline since October 2019

The announcement follows a decline in Healthpeak Properties Inc.’s share price of 35% since October 2019.

In the position of CEO since 2017

Tom Herzog became CEO of the Company in 2017.

His bio reads as follows:

• Healthpeak’s Chief Executive Officer and a member of the Board since January 2017, Executive Vice President and Chief Financial Officer from June 2016 to December 2016, and Executive Vice President and Chief Financial Officer from April 2009 to May 2011.
• Chief Financial Officer of UDR, Inc. (NYSE: UDR), a multifamily REIT, from January 2013 to June 2016.
• Chief Financial Officer at Apartment Investment and Management Company (NYSE: AIV), a multifamily REIT, from 2005 to 2009 and Chief Accounting Officer from 2004 to 2005.
• Chief Accounting Officer & Global Controller and Finance Technical Advisor roles for GE Real Estate from 2000 to 2004.
• Deloitte & Touche LLP audit department for 10 years, including a 2-year national office assignment in the real estate group.
• Member of the Executive Board, National Association of Real Estate Investment Trusts (“Nareit”) since 2018.
• Former Director at Tier REIT, Inc. (NYSE: TIER), from 2015 to 2019.

Push-out Score determined

The Push-out Score™ determined by exechange gauges the pressure surrounding Tom Herzog’s move on a scale of 0 to 10.

exechange reached out to Healthpeak and offered the company the opportunity to comment on the score.

Read the full story in the exechange report 41.2022 ($).