Welltower Announces Addition of Andrew Gundlach to Board of Directors

Rhea-AI Summary

Welltower Inc. (NYSE: WELL) has announced the appointment of Andrew Gundlach to its Board of Directors. Gundlach, 53, is the President and Co-CEO of Bleichroeder LP, a registered investment advisor. He brings nearly 30 years of investment experience and expertise in corporate strategy and capital markets. Gundlach has been a board member at First Eagle Investment Management since 2004 and played a key role in spinning off Bleichroeder. His background includes roles at Morgan Stanley and J.P. Morgan.

Kenneth J. Bacon, Chairman of Welltower's Board, highlighted Gundlach's broad skillset and alignment with the company's long-term investment orientation. Gundlach's appointment is expected to complement the Board's capabilities and contribute to Welltower's portfolio expansion and shareholder value enhancement efforts.

Positive

• Addition of a highly experienced investment professional to the Board of Directors
• New director brings expertise in corporate strategy and capital markets
• Appointment aligns with company's long-term investment orientation
• Potential for enhanced strategic financial management and capital allocation

Negative

• None.

TOLEDO, Ohio, July 29, 2024 /PRNewswire/ -- Welltower Inc. (NYSE: WELL) announced today the appointment of Andrew Gundlach to its Board of Directors. Mr. Gundlach, 53, is the President and Co-CEO of Bleichroeder LP, a registered investment advisor serving ultra-high-net-worth families. He has extensive experience in both public and private markets, with a particular expertise in corporate strategy and capital markets.

Mr. Gundlach has been a key figure at First Eagle Investment Management, where he has served on the board since 2004. Bleichroeder was spun out from First Eagle after funds controlled by Blackstone and Corsair bought majority control in 2015, a transaction initiated by Mr. Gundlach. Earlier in his career, Mr. Gundlach held roles in the corporate finance and M&A departments at Morgan Stanley and J.P. Morgan.

"We are delighted to announce the appointment of Andrew as an Independent Director of the Welltower Board. Andrew's broad skillset, highlighted by his extensive investment background, expertise in strategic financial management, and capital allocation acumen, will complement our Board's already robust capabilities," said Kenneth J. Bacon, Chairman and Independent Director of the Welltower Board. "With almost 30 years of investment experience, Mr. Gundlach's deep understanding of the markets and his strategic vision will be invaluable to Welltower as the company continues to expand its portfolio and seeks to enhance shareholder value. Additionally, Bleichroeder's well respected long-term investment orientation demonstrates Andrew's alignment with a key tenet of the Welltower management team's ethos."

Mr. Gundlach earned a B.S in International Relations and Affairs and an M.S. from Georgetown University's School of Foreign Service and an MBA from Columbia Business School. Mr. Gundlach is a Member of the Council on Foreign Relations, where he serves on the Investment Committee. He also serves as an Adjunct Professor at the Heilbrunn Center for Graham & Dodd Investing at Columbia Business School from 2004 to the present, where he teaches courses on investing. He currently serves as a Member of the Columbia Business School Board as well as a trustee of the Guggenheim Museum.

Forward-Looking Statement

This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. When Welltower uses words such as "may," "will," "intend," "believe," "expect," "project," "estimate" or similar expressions that do not relate solely to historical matters, Welltower is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause Welltower's actual results to differ materially from Welltower's expectations discussed in the forward-looking statements. This may be a result of various factors, including, but not limited to those factors discussed in Welltower's reports filed from time to time with the Securities and Exchange Commission. Welltower undertakes no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise, or to update the reasons why actual results could differ from those projected in any forward-looking statements.

About Welltower

Welltower Inc. (NYSE:WELL), a real estate investment trust ("REIT") and S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. Welltower invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. Welltower owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities and outpatient medical properties. More information can be found at www.Welltower.com.

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SOURCE Welltower Inc.

FAQ

Who is Andrew Gundlach and why was he appointed to Welltower's Board of Directors?

Andrew Gundlach is the President and Co-CEO of Bleichroeder LP, with nearly 30 years of investment experience. He was appointed to Welltower's Board for his expertise in corporate strategy, capital markets, and strategic financial management, which are expected to complement the Board's capabilities and contribute to the company's growth and shareholder value enhancement.

How might Andrew Gundlach's appointment impact Welltower's (WELL) future strategy?

Gundlach's appointment is expected to bring fresh perspectives on investment strategies, capital allocation, and corporate finance to Welltower. His extensive experience and alignment with long-term investment principles could influence the company's portfolio expansion and efforts to enhance shareholder value.

What is Andrew Gundlach's background and how does it relate to his new role at Welltower (WELL)?

Gundlach has a strong background in investment management, having served on the board of First Eagle Investment Management since 2004 and holding roles at Morgan Stanley and J.P. Morgan. His experience in both public and private markets, along with his expertise in corporate strategy and capital markets, is highly relevant to Welltower's operations in the real estate investment sector.

When was Andrew Gundlach appointed to Welltower's (WELL) Board of Directors?

Andrew Gundlach's appointment to Welltower's Board of Directors was announced on July 29, 2024, as per the press release.