LTC Properties Inc. (NYSE: LTC), a real estate investment trust focused on seniors housing and health care properties, announced changes in its executive leadership with the appointment of Wendy Simpson as executive chairman of the board of directors, the promotion of Pam Kessler and Clint Malin as co-CEOs, and the promotion of Cece Chikhale to chief financial officer. The appointments are part of the company’s succession plan and are effective Dec. 31.
The 75-year-old Simpson has been LTC’s CEO since 2007, after joining the company in 2000. Throughout her tenure with the company, Simpson served as vice chairman, president, chief operating officer, chief financial officer and treasurer.
Kessler has been LTC’s co-president since 2020 and also served as chief financial officer since 2007; she joined the company in 2000 as controller. Kessler will retain her role as co-president.
Malin has been LTC’s co-president since 2020 and has served as chief investment officer since 2004 when he joined the company. The company has begun an executive search for a new chief investment officer to succeed Malin, who will retain that function until a successor is named.
Chikhale has been LTC’s chief accounting officer since 2020 and had been controller and treasurer since 2007.
“It has been my greatest pleasure serving as LTC’s CEO for the last 17 years, and with the full support of our board of directors, I am excited to continue guiding and mentoring the Company as its executive chairman,” said Simpson. “Pam, Clint and Cece all are longtime proven executives with LTC, and are assuming expanded responsibilities in recognition of the significant contributions they have collectively made to LTC over the last two decades. Their combined experience will serve us well as LTC enters a new phase of growth through ongoing investments and the addition of a RIDEA structure to our business. After working together with this very talented team for more than 20 years, I believe LTC is in the right hands to deliver increasing value to all of our stakeholders.”
