AMH CEO Dave Singelyn to leave

  • After around 12 years in the position
  • Praise and thanks for Singelyn
  • Bryan Smith taking over
  • Singelyn said 108 words

(exechange) — Las Vegas, Nevada, February 22, 2024 — Dave Singelyn, chief executive of AMH, is set to leave his position. His upcoming departure is made public at an early stage. As announced by American Homes 4 Rent in a news release on Thursday, February 22, 2024, David P. (Dave) Singelyn leaves his post as chief executive officer at the real estate investment trust that invests in single-family rental homes, after around 12 years in the role, effective December 31, 2024.

Long goodbye

It is a long goodbye. The announcement of Dave Singelyn’s move comes up to 10 months prior to his planned departure from the post of CEO.

In general, a top executive who announces the departure particularly early may be considered a lame duck.

Dave Singelyn’s duties as CEO will be taken over by Bryan Smith, currently Chief Operating Officer at American Homes 4 Rent.

Dave Singelyn’s move coincides with a management shake-up also involving the position of Senior Executive Vice President.

No reason given

In the announcement, AMH did not explicitly explain the reason for the move.

Precise information regarding Dave Singelyn’s future plans was not immediately available.

“Retire”

AMH said: “David P. Singelyn, who has served as Chief Executive Officer since the Company’s inception, has announced his intent to retire effective December 31, 2024.”

Share price increase since February 2019

The announcement follows an increase in American Homes 4 Rent’s share price of 57% since February 2019.

In the position of CEO since 2012

Dave Singelyn became CEO of the Company in 2012.

Singelyn has served as a trustee of the company and the Company’s Chief Executive Officer since October 2012.

Singelyn co-founded AH LLC with Hughes in June 2011 and served as the Chief Executive Officer of American Homes 4 Rent Advisor, LLC, the Company’s former manager, until the company internalized its senior management on June 10, 2013.

From 2003 through April 2013, Singelyn was Chairman and President of Public Storage Canada, a real estate company previously listed on the Toronto Stock Exchange, where he built a management team that restructured the operations of Public Storage Canada, including building an operations team and installing accounting and operating computer systems.

In 2010, Singelyn facilitated the restructuring of the ownership entity that was traded on the Toronto stock exchange resulting in Public Storage Canada “going private.”

In 2005, Singelyn, along with Hughes, founded ACE, and he now serves as a co-manager of ACE.

Singelyn is also a director of the William Lawrence and Blanche Hughes Foundation, a non-profit organization dedicated to research of pediatric cancer.

Singelyn served as the Treasurer for Public Storage, from 1989 through 2003, where he was responsible for equity capital raising, debt issuances, corporate cash management and financial management for Public Storage and its subsidiary operations.

During his tenure, and with his involvement, Public Storage raised funds through the public and institutional marketplaces, including from a number of state pensions.

Singelyn started his career at Arthur Young and Company (now a part of Ernst & Young LLP) and also served as Controller of Winchell’s Donut Houses where he was responsible for all accounting functions.

Singelyn earned a B.S. in Accounting and a B.S. in Computer Information Systems from California Polytechnic University—Pomona.

108 words by Dave Singelyn

In the release announcing his departure as CEO of American Homes 4 Rent, Dave Singelyn received praise and thanks.

In announcing his departure, Dave Singelyn said 108 words.

“Excellent choice”

Dave Singelyn stated: “Bryan is a talented and experienced executive who has driven our business, our strategy, and our operations during the past 12 years. His operational expertise, leadership skills, and commitment to our ongoing success make him an excellent choice to lead the Company into an exciting future. I will be working closely with Bryan to ensure a smooth transition. I am also very pleased for Chris in his elevated role. He has been instrumental to the Company’s strategy and execution during the past 11 years, and his unwavering commitment to excellence has further propelled our Company’s ability to dramatically increase shareholder value and demonstrate resilience during any economic cycle.”

The above text is an excerpt from the exechange report 9.2024 ($), publication date February 26, 2024.