- Push-out Score determined
- After around 10 years in the position
- No successor named
- Moos will remain as Chief Executive Officer at Southern Properties
(exechange) — Dallas, Texas, August 18, 2020 — Daniel Moos, chief executive of American Realty, leaves his position. As announced by American Realty Investors Inc. in a regulatory filing published on Tuesday, August 18, 2020, Daniel J. Moos has left his post as chief executive officer at the provider of real estate investment management services after around 10 years in the role, effective August 14, 2020.
American Realty did not name a replacement for the position of Chief Executive Officer.
Daniel Moos’s move forms part of a management shake-up also involving the position of Chief Financial Officer.
No reason given
In the announcement, American Realty did not explicitly explain the reason for Daniel Moos’s move.
Moos will remain as CEO at Southern Properties
“Mr. Moos will continue as the Chief Executive Officer (“CEO”) of Southern Properties Capital LTD, a British Virgin Islands Company (“SPC”), wholly owned by Transcontinental Realty Investors, Inc. (“TCI”), which is over 78% owned by the Issuer and its subsidiaries. SPC has series of debentures listed and traded on the Tel Aviv Stock Exchange (“TASE”). He will also continue as the Manager of Victory Abode Apartments LLC (“V Abode”), which is equally owned and controlled 50% by SPC and 50% by an indirect subsidiary of Macquarie Bank of Australia. Mr. Moos will be concentrating his management efforts on the assets and operations of SPC and V Abode for the next few months,” American Realty said.
“Resigned”
American Realty said: “Effective August 14, 2020, Daniel J. Moos, age 69, President [since April 2007] and Chief Executive Officer [since March 2010] of American Realty Investors, Inc. (the “Company” or the “Issuer”), ceased to be and resigned as President and Chief Executive Officer, as well as all positions with any United States subsidiary entities.”
“Not the result of any disagreement”
“Mr. Moos noted that his resignation is not the result of any disagreement with the Company, its management, the Board of Directors or any committee of the Board with respect to procedures, policies or operations of the Issuer,” American Realty said.
Share price decline
The announcement follows a decline in American Realty Investors Inc.’s share price of 27% since January 2018.
Chaired by Henry A. Butler
Henry A. Butler serves as American Realty Investors Inc.’s Chairman & Vice President.
In the position of CEO since 2010
Daniel Moos became CEO of the Company in 2010.
His bio reads as follows:
President (since April 2007), Chief Executive Officer (since March 2010), and Chief Operating Officer (April 2007 to March 2010) of the Company, TCI, and IOR;
President (since December 2010), Chief Executive Officer (since March 2011), Treasurer (since October 2013), and Director (December 2010 to March 2011 and December 2016 to Present) of Pillar;
Senior Vice President and Business Line Manager of U.S. Bank (NYSE), working out of their offices in Houston, Texas from 2003 to April 2007;
Executive Vice President and Chief Financial Officer of Fleetcor Technologies, a privately held transaction processing company that was headquartered in New Orleans, Louisiana from 1998 to 2003;
Senior Vice President and Chief Financial Officer of ICSA, a privately held internet security and information company, headquartered in Carlisle, Pennsylvania from 1996 to 1998;
and, for more than five years prior thereto, was employed in various financial and operating roles for PhoneTel Technologies, Inc., which was a publicly traded telecommunication company, then listed on the American Stock Exchange [now, the NYSE American], headquartered in Cleveland, Ohio (1992 to 1996), and LDI, which was a publicly traded computer equipment sales/service and asset leasing company, listed on the NASDAQ and headquartered in Corporation of Cleveland, Ohio.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to American Realty and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 34.2020 ($).