Welltower Inc. (NYSE: WELL) announced several executive promotions on Thursday, appointing Nikhil Chaudhri and Tim McHugh as the company’s co-presidents.

In addition to their roles as joint presidents, Chaudhri will also serve as chief investment officer (CIO), after having overseen $11 billion in global investments over the years, while McHugh will also continue his role as Welltower’s CFO, a company press release stated. 

Chaudhri joined Welltower as an associate nearly a decade ago before being named co-head of U.S. investments in 2020 and CIO in 2023.

And, McHugh, who joined Welltower in 2016,  previously served as executive vice president and CFO. 

“In recent years, Mr. McHugh has led an unparalleled strengthening of the Company’s balance sheet, with Welltower currently maintaining exceptional levels of liquidity and the strongest leverage metrics amongst all large cap REITs,” the press release noted. “He will continue to lead the Company’s corporate finance, capital markets, financial planning and analysis, budgeting, capital planning, tax and financial accounting functions.

Shankh Mitra, CEO of the Ohio-based real estate investment trust (REIT), said that these executives were all part of Welltower’s original team, and “instrumental” in building Welltower.

“The transformation of Welltower and the progress we have made over the past decade would not have been possible without the dedication, contribution and impact of the individuals being recognized today,” said Mitra, adding that the assignments are aimed at strengthening the company’s leadership team and support long-term growth.

In other assignments, the company’s EVP and COO John Burkart has been appointed vice chairman and COO. Burkart joined Welltower in 2021 after spending 25 years at Essex Property Trust, a multifamily REIT. 

“During his tenure at Welltower, Mr. Burkart has made tremendous strides in driving structural overhaul for our Company through the creation of a first-in-kind comprehensive operating platform within the seniors housing industry. Importantly, the platform will serve to meaningfully improve and enhance the customer and site level employee experience through the modernization and digital transformation of the business,” the press release noted. 

Matthew McQueen has been promoted to chief legal officer, while John Olympitis advances to EVP and head of corporate development.

Moreover, Edward Cheung becomes EVP of international investments, expanding Welltower’s international presence. And, Patrick Keppenne is promoted to SVP of investments, further enhancing the firm’s investment capabilities.

“The transformation of Welltower and the progress we have made over the past decade would not have been possible without the dedication, contribution and impact of the individuals being recognized today,” said Mitra.  “These promotions reflect their exceptional leadership as they embody the unique culture we have created.”