Realty Income Corp. has named John P. Case to succeed the retiring Tom A. Lewis as chief executive officer of the Escondido-based company.
Lewis has decided to retire after 16 years as CEO of the real estate investment trust, the company said, in a statement. Case, who most recently served as the company’s president and chief investment officer, has been appointed by the Realty Income Board of Directors as the third CEO in the company’s 44-year history.
Lewis will remain at the company until early next year to assist with the transition, and will continue to serve as vice chairman of the board of directors. During his CEO tenure, Realty Income’s total enterprise value grew from $619 million to $12.9 billion, and its portfolio of real estate assets grew from 740 properties to 3,681 properties, the company said.
“Tom Lewis has led our company as CEO for 16 years with distinction, integrity and creativity,” said Michael D. McKee, independent chairman of the Realty Income Board of Directors. “He has now led us through a textbook succession process and we expect a smooth transition.”
Prior to joining Realty Income in 2010, Case served for 19 years as a New York-based real estate investment banker, including a tenure as co-head of real estate investment banking for RBC Capital Markets.
Realty Income (NYSE: O) is among the nation’s largest publicly traded REITs. The company invests in retail, industrial and related commercial properties.
— SDBJ Staff Report