Aimco Announces Changes in Board Leadership Roles and Committee Composition
02 Februar 2023 - 10:15PM
Business Wire
R. Dary Stone Named Chairman of the Board
Apartment Investment and Management Company (NYSE: AIV) (“Aimco”
or the “Company”) today announced that its Board of Directors has
named R. Dary Stone as Chairman of the Board, effective February 1,
2023.
Mr. Stone was appointed to the Aimco Board in December 2020 and
has served in other Board leadership roles at Aimco including
Chairman of the Nominating, Environmental, Social, and Governance
Committee. He is an accomplished executive who brings investment
and finance, real estate, and capital markets experience having
served as President of multiple real estate companies, including as
President and COO of Cousins Properties. Mr. Stone also brings
governance expertise through his current board service at Cousins
Properties, where he is Chairman of the Nominating and Governance
Committee, and Tolleson Wealth Management and Tolleson Private
Bank, as well as prior board positions at Parkway Properties,
Baylor University and the Texas Banking Commission.
Aimco also announced several Board leadership and committee
changes, effective February 1, 2023, as part of its commitment to
strong governance:
- Quincy L. Allen, who joined the Aimco Board in December 2020,
has been named as Chairman of the Nominating, Environmental,
Social, and Governance Committee, succeeding Mr. Stone. Mr. Allen
will facilitate the execution of the governance enhancements that
the Company committed to in November 2022.
- Patricia L. Gibson, who joined the Aimco Board in December
2020, has been named Chairwoman of the Investment Committee. Ms.
Gibson brings expertise in the areas of real estate finance,
investment, and asset management, and will oversee the Board’s
ongoing efforts to actively consider all opportunities available to
further enhance and unlock stockholder value.
- James P. Sullivan, who was appointed to the Board in December
2022, has been appointed as a member of each of the Board’s
standing committees – Audit, Compensation and Human Resources,
Nominating, Environmental, Social, and Governance, and
Investment.
- Due to reduced transaction activity with Apartment Income REIT
Corp. (AIR), the responsibilities of the Aimco-AIR Transactions
Committee are now under the purview of the Investment
Committee.
“I’m honored to be able to serve Aimco, its shareholders, and
its outstanding Board,” said Mr. Stone. “These Board committee
changes signal our commitment to driving shareholder value creation
while further enhancing the Company’s governance profile. The Board
and leadership team will continue to engage with shareholders, and
be responsive to their feedback, as we execute on the significant
opportunities ahead to drive strong returns.”
About Aimco
Aimco is a diversified real estate company primarily focused on
value add, opportunistic, and alternative investments, targeting
the U.S. multifamily sector. Aimco’s mission is to make real estate
investments where outcomes are enhanced through its human capital
so that substantial value is created for investors, teammates, and
the communities in which we operate. Aimco is traded on the New
York Stock Exchange as AIV. For more information about Aimco,
please visit its website www.aimco.com.
Forward-Looking Statements
This document contains forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements
include all statements that are not historical statements of fact
and those regarding our intent, belief, or expectations. We caution
investors not to place undue reliance on any such forward-looking
statements.
Words such as “anticipate(s),” “expect(s),” “intend(s),”
“plan(s),” “believe(s),” “plan(s),” “may,” “will,” “would,”
“could,” “should,” “seek(s),” “forecast(s),” and similar
expressions, or the negative of these terms, are intended to
identify such forward-looking statements. These statements are not
guarantees of future performance, condition or results, and involve
a number of known and unknown risks, uncertainties, assumptions and
other important factors, among others, that may affect actual
results or outcomes include, but are not limited to: (i) the risk
that the 2023 preliminary plans and goals may not be completed in a
timely manner or at all, (ii) the inability to recognize the
anticipated benefits of pipeline investments and projects, (iii)
changes in general economic conditions, including as a result of
the COVID-19 pandemic. Although we believe that the assumptions
underlying the forward-looking statements, which are based on
management’s expectations and estimates, are reasonable, we can
give no assurance that our expectations will be attained.
These forward-looking statements reflect management’s judgment
as of this date, and the Company assumes no (and disclaims any)
obligation to revise or update them to reflect future events or
circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20230202005808/en/
Matt Foster Sr. Director, Capital Markets and Investor Relations
(303) 793-4661 investor@aimco.com
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