Welltower Inc. (NYSE: WELL) on Wednesday announced the promotion of Tim McHugh to the position of chief financial officer — as well as the departure of former CFO John Goodey.
McHugh had previously held the title of senior vice president, corporate finance at the Toledo, Ohio-based real estate investment trust (REIT), and will continue to sport the SVP title along with CFO.
“He has proven himself to be an outstanding steward of Welltower’s corporate finance, capital markets, financial planning and analysis, budgeting, and capital planning efforts and has played an instrumental role in our exceptional growth,” CEO Tom DeRosa said in a statement announcing the personnel moves.
McHugh has been with Welltower since 2016, when he left investment firm RREEF Management — now known as DWS Investments.
Goodey, meanwhile, entered into a formal resignation agreement with Welltower on Wednesday and will formally leave the company on September 20.
“He has returned to the United Kingdom to pursue another opportunity,” Welltower reported in a filing with the Securities and Exchange Commission.
Welltower — which invests in a variety of senior living and care providers — made major headlines in the skilled nursing world last year with its $4.4 billion deal to acquire the real estate of bankrupt nursing home giant HCR ManorCare in a joint venture with non-profit hospital system ProMedica.