Omega Healthcare Investors (NYSE: OHI) announced changes in key leadership positions on Monday, appointing Matthew Gourmand as its president and Vikas Gupta as chief investment officer.

In addition, Dan Booth has stepped down as COO after 23 years in the position. Booth will serve as a consultant for the next year.

Gourmand and Gupta were formerly senior vice president of corporate strategy and investor relations, and senior vice president of acquisitions and development, respectively.

Taylor Pickett, Omega CEO, said the change marks the next stage of the company’s long-term and continuous succession planning process.

“The Company has been fortunate to enjoy a stable executive team for many years, while augmenting the long-standing team with the next generation of leaders,” Pickett said in a press release. “Having worked with Matthew and Vikas since they joined the team, I believe their significant industry experience, strong business acumen, and exceptional work ethic will help drive the next stage of growth at the company.”

Booth was an integral member of the real-estate investment trust’s (REIT) team over the years and his contributions have been extensive, Pickett said. It’s unclear who will be taking over Booth’s position.

Maryland-based Omega partners with 81 regional and national health care providers in the U.S, and U.K., including nursing home providers.