NHI Announces CFO Succession Plan; John Spaid to Retire, Todd Siefert Named Successor

Rhea-AI Summary

National Health Investors (NYSE: NHI) announced a planned CFO succession: John Spaid will retire effective July 1, 2026. Todd Siefert will be appointed Executive Vice President Corporate Finance on June 1, 2026 and will succeed Spaid as CFO upon his retirement. Dana Hambly is promoted to Senior Vice President of Finance.

The release highlights Siefert's 25+ years of finance experience, a prior Hillsboro Residential pipeline exceeding $275 million, and leadership of more than $8.0 billion in capital markets transactions at Ryman Hospitality.

Positive

• Planned CFO succession with effective dates (June 1 and July 1, 2026)
• Successor Todd Siefert has >25 years of corporate finance experience
• Siefert oversaw a development pipeline exceeding $275 million
• Siefert led over $8.0 billion in capital markets transactions at RHP
• Promotion of Dana Hambly to Senior Vice President of Finance

Negative

• Executive CFO retirement introduces a near-term finance leadership transition

News Market Reaction – RHP

+1.61%

+1.61% Session close to close

In the Apr 24 session, RHP gained 1.61%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement centers on NHI’s CFO succession and highlights that the incoming executive previou...

Analysis

This announcement centers on NHI’s CFO succession and highlights that the incoming executive previously held senior finance roles at Ryman Hospitality Properties, a hotel-focused REIT. For RHP, the news mainly underscores its track record as a training ground for executives with experience in capital markets and large-scale transactions. Investors tracking RHP may continue to focus on its recent $700 million debt refinancing, upcoming earnings call, and broader REIT sector trends.

Key Figures

Retirement effective date: July 1, 2026 Succession start date: June 1, 2026 Experience: More than 25 years +3 more

6 metrics

Retirement effective date July 1, 2026 John Spaid retirement as NHI CFO

Succession start date June 1, 2026 Todd Siefert appointed EVP Corporate Finance at NHI

Experience More than 25 years Todd Siefert corporate finance and capital markets background

Development pipeline $275 million Hillsboro Residential multifamily development pipeline exceeding this amount

Prior REIT market cap $6.0 billion Ryman Hospitality Properties market capitalization exceeding this figure

Capital markets transactions $8.0 billion Capital markets transactions led at Ryman Hospitality Properties

Historical Context

5 past events · Latest: Mar 11 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 11	Earnings call scheduling	Neutral	-3.4%	Announced Q1 2026 earnings release timing and conference call details.
Mar 11	Debt refinancing close	Positive	+0.7%	Closed $700 million of 5.750% senior notes due 2034 to redeem 2027 notes.
Mar 02	Investor presentation	Neutral	+1.0%	Released investor presentation ahead of two institutional investor conferences.
Feb 25	Debt offering pricing	Positive	-1.5%	Priced $700 million 5.750% senior notes due 2034 for refinancing.
Feb 25	Proposed notes offering	Positive	-1.5%	Announced proposed private offering of $700 million senior notes due 2034.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent news centered on debt refinancing and investor communications has produced mixed short-term price reactions, with both positive and negative moves around senior notes announcements.

Recent Company History

Over the last few months, Ryman Hospitality Properties issued and refinanced significant debt, including multiple $700 million senior notes due 2034 announcements on February 25, 2026 and closing on March 11, 2026. These were paired with plans to redeem 4.750% notes due 2027. The company also shared an investor presentation on March 2, 2026 and scheduled its first-quarter 2026 earnings call on May 1, 2026. Today’s article references RHP only as a prior employer of NHI’s incoming CFO, contrasting with RHP’s recent focus on capital structure and investor outreach.

Key Terms

reit, capital markets, treasury management, investor relations, +1 more

5 terms

reit financial

"with deep expertise in publicly traded REITs. He most recently served"

A real estate investment trust (REIT) is a company that owns, operates, or finances income-producing real estate, like shopping centers, apartments, or office buildings. For investors, REITs offer a way to invest in real estate without having to buy property directly, often providing regular income through dividends. They function like a mutual fund for real estate, making it easier for people to add property investments to their portfolio.

capital markets financial

"experience in corporate finance, capital markets, treasury management, and"

Capital markets are places where people and organizations buy and sell long-term investments like stocks and bonds. They help connect those who need money to grow or fund projects with investors looking to earn returns over time. For investors, capital markets are important because they offer opportunities to invest, save, and grow their wealth through a variety of financial assets.

treasury management financial

"experience in corporate finance, capital markets, treasury management, and"

Treasury management is a company's day‑to‑day handling of cash, short‑term investments, borrowing and financial risks to make sure bills are paid, excess cash is used wisely, and exposure to things like interest rates or foreign currencies is controlled. Think of it as running the company's checking account and emergency fund so operations keep flowing. For investors, strong treasury management signals that a company can meet obligations, fund growth without costly surprises, and protect value in changing markets.

investor relations financial

"treasury management, and investor relations, with deep expertise in publicly"

Investor relations is the communication process between a company and its current or potential investors. It involves sharing information about the company's performance, strategies, and outlook to help investors make informed decisions. Effective investor relations build trust and transparency, similar to a clear conversation between a business and someone considering investing, ensuring both parties understand each other's interests and expectations.

mergers and acquisitions financial

"public debt and equity offerings, mergers and acquisitions, and balance sheet"

Mergers and acquisitions are processes where companies combine or one company purchases another to grow or improve their business. Think of it like two teams joining forces or one team buying out another to become stronger and more competitive. These activities matter to investors because they can influence a company's value, future growth, and overall market position.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MURFREESBORO, Tenn., April 23, 2026 /PRNewswire/ -- National Health Investors, Inc. (NYSE: NHI) announced today that John Spaid, Executive Vice President and Chief Financial Officer, will retire effective July 1, 2026. To support a seamless transition, the Company will appoint Todd Siefert as Executive Vice President Corporate Finance, effective June 1, 2026, and he will succeed Mr. Spaid as Chief Financial Officer upon his retirement.

The Company also announced today that as part of the transition that Dana Hambly has been promoted to Senior Vice President of Finance to assume expanded responsibilities.

"On behalf of the entire NHI community, I congratulate John on his many contributions to our Company," said Eric Mendelsohn, President and CEO. "Through his leadership and disciplined financial stewardship, NHI has built a strong balance sheet and is well-positioned to capitalize on future growth opportunities. We thank John for his dedication and lasting impact, and we wish him the very best in his retirement."

"It has been a privilege to serve NHI over the past decade," said Mr. Spaid. "I'm proud of the financial and accounting platforms we've built.  The Company's public equity and debt facilities are well-positioned to provide future capital to the Company as it executes its long-term strategy. I look forward to NHI's continued success."

Mr. Siefert brings more than 25 years of experience in corporate finance, capital markets, treasury management, and investor relations, with deep expertise in publicly traded REITs. He most recently served as Chief Financial Officer of Hillsboro Residential, where he oversaw debt and equity financing, financial underwriting, and investor relations for a ground-up multifamily development platform with a pipeline exceeding $275 million.

Prior to that, Mr. Siefert served as Senior Vice President of Corporate Finance and Treasurer at Ryman Hospitality Properties (NYSE: RHP), a publicly traded REIT with a market capitalization exceeding $6.0 billion, where he led more than $8.0 billion in capital markets transactions spanning syndicated bank facilities, public debt and equity offerings, mergers and acquisitions, and balance sheet restructuring. He began his career as a Senior Consultant at Booz Allen & Hamilton and as a Merger and Acquisition Analyst at the U.S. Department of Justice — Antitrust Division. 

"Todd is a seasoned finance executive with deep real estate and public REIT experience," added Mr. Mendelsohn, "We believe his leadership and perspective will strengthen our executive team and support NHI's continued growth."

About National Health Investors, Inc.
National Health Investors, Inc. (NYSE: NHI), established in 1991 as a Maryland corporation, is a self-managed real estate investment trust ("REIT"). The Company owns, leases, operates and finances the development of high-quality real estate properties, focusing on senior housing communities and medical facilities. The Company operates through two reportable segments: Real Estate Investments and SHOP. The Company's investments in real estate properties include independent living facilities, assisted living facilities, entrance-fee communities, senior living campuses, skilled nursing facilities and hospitals. For more information, visit www.nhireit.com.

Forward-Looking Statement

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company's expected future financial positions, results of operations, cash flows, funds from operations, dividend and dividend plans, financing opportunities and plans, capital market transactions, business strategy, budgets, projected costs, operating metrics, capital expenditures, competitive positions, acquisitions, investment opportunities, dispositions, acquisition integration, growth opportunities, expected lease income, continued qualification as a REIT, plans and objectives of management for future operations, continued performance improvements, ability to service and refinance debt obligations, ability to finance growth opportunities, and similar statements including, without limitation, those containing words such as "may", "will", "should", "believes", "anticipates", "expects", "intends", "estimates", "plans", "projects", "target", "likely" and other similar expressions are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results in future periods to differ materially from those projected or contemplated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, those risks and uncertainties which are described under the heading "Risk Factors" in Item 1A in the Company's Annual Report on Form 10-K for the year ended December 31, 2025. Many of these factors are beyond the control of the Company and its management. The Company assumes no obligation to update any forward-looking statements, except as required by law, and these statements speak only as of the date on which they are made. Investors are urged to carefully review and consider the various disclosures made by the Company in its periodic reports filed with the Securities and Exchange Commission, including the risk factors and other information in the above referenced Annual Report on Form 10-K. Copies of these filings are available at no cost on the SEC's web site at https://www.sec.gov or on the Company's website at www.nhireit.com.

Contact: Dana Hambly, Senior Vice President, Finance
Phone: (615) 890-9100

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SOURCE National Health Investors, Inc.

FAQ

When will John Spaid retire as CFO of National Health Investors (NHI)?

John Spaid will retire effective July 1, 2026. According to the company, he will step down on that date after serving as Executive Vice President and CFO.

When will Todd Siefert assume CFO responsibilities at NHI (NYSE: NHI)?

Todd Siefert will join as Executive Vice President Corporate Finance on June 1, 2026 and will succeed as CFO on July 1, 2026. According to the company, this creates a planned transition period.

What experience does NHI cite for new CFO Todd Siefert?

Siefert brings more than 25 years of finance, capital markets, and REIT experience. According to the company, he managed a $275M+ pipeline and led $8.0B+ in capital markets transactions.

Who is replacing finance leadership at NHI besides the CFO change?

Dana Hambly has been promoted to Senior Vice President of Finance to assume expanded responsibilities. According to the company, this supports continuity during the CFO transition.

Will the CFO change at NHI affect the company’s balance sheet or financing access?

The announcement states NHI maintains a strong balance sheet and financing capabilities. According to the company, existing public equity and debt facilities remain positioned to support the long-term strategy.