Aimco Announces the Resignation of Terry Considine from its Board of Directors
13 Februar 2023 - 12:59PM
Business Wire
Apartment Investment and Management Company (NYSE: AIV) (“Aimco”
or the “Company”) announced today that Mr. Terry Considine has
resigned from its board of directors. The Company offers its utmost
appreciation for his nearly 30 years of service.
Mr. Considine founded and managed Aimco’s predecessor companies
and led its initial public offering in 1994. Serving as Chairman
and CEO, Mr. Considine grew Aimco into the nation's largest owner
and operator of apartment homes by 1999. In subsequent years, Mr.
Considine distilled the Aimco portfolio to select U.S. markets,
created value through the targeted redevelopment of Aimco
properties, and built a best-in-class property management platform.
In December 2020, Mr. Considine and the Aimco board led the
creation and spin-off of Apartment Income REIT Corp. (“AIR”), where
Mr. Considine currently serves as CEO.
Mr. Considine wrote Sunday in a letter to Aimco Chairman of the
Board Dary Stone: “‘New Aimco’ has done well. Over a time when
apartment values tumbled, net asset value per share doubled at
Aimco. The record is clear. The transition is complete. No coach is
needed. My work is done.
“Having fulfilled my commitments, I plan to resign as an Aimco
director to focus on AIR. I will remain an Aimco shareholder. I
have confidence in management, your leadership, and the Board…You
and Wes make an impressive team!”
“On behalf of the Board, I would like to express our deepest
gratitude to Terry for his extraordinary leadership and service to
the Company over the past three decades,” said R. Dary Stone,
Aimco’s Chairman of the Board. “Apart from laying its strong
foundation, Terry has been instrumental in helping new Aimco
successfully advance its re-focused and freestanding business model
over the past several years.”
“Terry has been a trusted advisor and mentor for nearly 20
years,” said Wes Powell, Aimco President and CEO. “In addition to
his remarkable leadership qualities, vision, and business prowess,
I have tremendous admiration for Terry’s relentless drive to
improve and innovate. Speaking on behalf of the entire Aimco team,
I offer our appreciation to Terry for his unwavering support and
guidance over the past many years and know that his legacy will
loom large at Aimco.”
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/20230213005231/en/
Matt Foster Sr. Director, Capital Markets and Investor Relations
(303) 793-4661 investor@aimco.com
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