W.P. Carey Inc. (NYSE: WPC), a New York City-based net lease real estate investment trust (REIT), announced that John Park will step down as president effective Sept. 30.
Park joined W.P. Carey as an investment analyst in 1987 and was director of strategy and capital markets prior to becoming president in 2018. After stepping down from the president’s position, he will serve as senior advisor to the company through February 2025 and will continue to serve as a trustee of Net Lease Office Properties (NYSE: NLOP) and the W.P. Carey Foundation.
The separate role of president will be eliminated and the title will be assumed by CEO Jason Fox.
“John has been an integral member of the W.P. Carey team for nearly 37 years,” said Fox. “His contributions to our success have been numerous and I have personally valued his insights, creativity, and importantly, his friendship over the years. On behalf of the entire company, I want to thank John for the critical role he played in shaping W.P. Carey.”
“Having spent my entire career at W.P. Carey, I am proud to have helped steer its growth and evolution from a private asset manager to the leading publicly traded net lease REIT it is today,” said Park. “It’s been a privilege to work with such a talented and passionate team, and I know that I will be leaving W.P. Carey in a strong position with a bright future.”
Photo: John Park
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