As the saying goes, “behind every successful company is a strong board of directors”. Welltower is no exception. In this article, we will introduce you to the individuals who form the backbone of this organization, and explain why their role is instrumental in shaping Welltower’s future direction and success.
The Board of Directors is responsible for the overall direction, governance, and management of the company, working in the best interest of its shareholders. They are accountable for the strategic planning and decision-making, financial and risk management, and monitoring of the company’s performance. A strong board with diverse expertise and experience is essential in ensuring that sound decisions are made and that all aspects of the company are aligned towards achieving its goals.
Furthermore, a strong board of directors can also attract investors and enhance the company's reputation. Investors are more likely to invest in a company that has a well-respected and competent board of directors. Additionally, a strong board can help to establish the company's values and culture, which can positively impact employee morale and retention. Therefore, it is crucial for companies to prioritize the selection and development of a strong board of directors.
Before we dive into the details of the Board of Directors, let’s briefly introduce you to Welltower. Welltower is a NYSE-listed American healthcare real estate investment trust (REIT) that provides capital to operators of senior housing, assisted living, and post-acute care facilities. Their portfolio includes over 1,500 properties across the United States, Canada, and the United Kingdom, providing essential services to over 700,000 seniors. They are committed to providing innovative, affordable, and high-quality care to their residents, investors, and partners.
Welltower has been in operation for over 50 years, and during that time, they have become a leader in the healthcare real estate industry. They have a team of experienced professionals who are dedicated to finding and investing in properties that meet their high standards for quality and care. They also work closely with their operators to ensure that their properties are well-maintained and that their residents receive the best possible care.
In addition to their focus on senior housing and post-acute care facilities, Welltower is also committed to investing in other areas of healthcare real estate, such as medical office buildings and outpatient facilities. They believe that by investing in these areas, they can help to improve the overall quality of healthcare in the communities they serve.
Welltower traces its roots back to 1970, when it was founded as the Health Care REIT, Inc. Over the years, it has grown both organically and through strategic acquisitions, becoming one of the largest healthcare REITs in the world. Throughout this growth, the Board of Directors of Welltower has played a critical role in shaping the company’s strategy, guiding its operations, and safeguarding the interests of its shareholders.
In recent years, the Board of Directors of Welltower has also prioritized sustainability and social responsibility. In 2019, the company was recognized as a Global Real Estate Sustainability Benchmark (GRESB) leader in the healthcare sector, and it has made commitments to reduce its carbon footprint and increase diversity and inclusion within its workforce. The Board has also established a Corporate Social Responsibility Committee to oversee these efforts and ensure that Welltower continues to operate in a responsible and ethical manner.
The Board of Directors is responsible for ensuring that Welltower’s business is conducted ethically, transparently, and in compliance with all relevant laws and regulations. They oversee the company’s financial reporting and disclosures, ensure the accuracy of accounting records, and conduct audits to verify compliance. The Board also plays a key role in identifying and addressing any potential conflicts of interest, protecting the interests of shareholders and stakeholders alike.
In addition to their oversight responsibilities, the Board of Directors also plays a crucial role in setting the strategic direction of the company. They work closely with senior management to develop and implement long-term plans that align with the company’s mission and values. This includes identifying new growth opportunities, assessing potential risks, and making decisions about resource allocation.
Furthermore, the Board of Directors is responsible for ensuring that Welltower maintains a strong corporate culture that values diversity, equity, and inclusion. They set policies and guidelines that promote a respectful and inclusive workplace, and they hold senior management accountable for upholding these standards. By fostering a culture of integrity and accountability, the Board helps to build trust and confidence among employees, customers, and other stakeholders.
Thomas J. DeRosa serves as the Chairman, Chief Executive Officer, and Director of Welltower. DeRosa brings over 25 years of experience in the healthcare and finance industries, having served in various leadership and executive roles in companies such as The Rouse Company, General Growth Properties, and HealthCap. Under his guidance, Welltower has grown considerably, providing superior returns to shareholders while focusing on delivering high-quality care to its residents. His expertise and leadership have been instrumental in guiding Welltower’s board through the challenges of the rapidly changing healthcare industry.
DeRosa is also a strong advocate for sustainability and environmental responsibility. He has implemented several initiatives at Welltower to reduce the company’s carbon footprint and promote sustainable practices. These initiatives include the installation of energy-efficient lighting and HVAC systems in Welltower’s properties, as well as the implementation of recycling programs and the use of eco-friendly cleaning products.
In addition to his professional accomplishments, DeRosa is also actively involved in philanthropic efforts. He serves on the board of several non-profit organizations, including the American Red Cross and the National Association of Real Estate Investment Trusts (NAREIT) Foundation. He is also a supporter of various healthcare-related charities, including the Alzheimer’s Association and the Leukemia & Lymphoma Society.
Alongside DeRosa, Welltower’s executive leadership team is composed of experienced and skilled professionals. They bring a wealth of expertise in areas such as finance, real estate, healthcare, and operations, which are essential to the management of a successful healthcare REIT. Each member of the leadership team plays a critical role in ensuring that the company is managed effectively and that its operations align with its strategic objectives.
One notable member of Welltower’s executive leadership team is Mercedes Kerr, the Senior Vice President of Business Development. Kerr has over 20 years of experience in healthcare real estate and has been instrumental in expanding Welltower’s portfolio through strategic acquisitions and partnerships. Her expertise in identifying and executing on growth opportunities has been a key factor in the company’s success in recent years.
Welltower’s Board of Directors is comprised of accomplished and experienced individuals with diverse backgrounds and expertise. The current board consists of twelve members, ten of whom are independent directors. Each board member brings a unique set of skills and experience, including backgrounds in real estate, healthcare, finance, and law. The board’s diversity ensures a broad perspective, and it is committed to maintaining its diversity over time.
One of the board members, Dr. Karen DeSalvo, is a renowned public health expert who served as the Acting Assistant Secretary for Health in the U.S. Department of Health and Human Services. Her expertise in healthcare policy and population health management is invaluable to Welltower’s mission of improving the health and well-being of seniors.
Another board member, Mr. Jeffrey Donahue, has extensive experience in real estate investment and finance. He previously served as the Chief Investment Officer of a leading real estate investment trust and brings a wealth of knowledge in real estate portfolio management and investment strategy to the board.
One of the board’s primary responsibilities is to manage risk and ensure compliance. They work closely with the executive leadership team to monitor potential risks to the company, develop and implement mitigation strategies, and evaluate the effectiveness of existing risk controls. Additionally, the board ensures that the company complies with all applicable laws, regulations, and policies. The board’s strong commitment to risk management and compliance has helped to ensure that Welltower continues to operate at the highest standards in the industry.
The board also regularly reviews and updates the company’s risk management and compliance policies to ensure they remain relevant and effective. They conduct regular training sessions for employees to ensure they understand their roles and responsibilities in managing risk and complying with regulations. The board also engages with external experts and industry associations to stay up-to-date on emerging risks and best practices in risk management and compliance. By taking a proactive approach to risk management and compliance, the board helps to safeguard the company’s reputation and protect the interests of its stakeholders.
Welltower has an exciting future ahead, with a strong focus on innovation, sustainability, and growth. The Board of Directors is committed to continuing to drive growth and value for shareholders while providing high-quality care to residents. The board’s vision is to lead the transformation of healthcare real estate by being the most innovative, respected, and valued partner for operators, investors, and employees worldwide.
In order to achieve this vision, Welltower is investing heavily in research and development to create new and innovative solutions for healthcare real estate. The company is also committed to sustainability, with a goal of reducing its carbon footprint and promoting environmentally-friendly practices across its properties. Additionally, Welltower is focused on expanding its global presence, with a particular emphasis on emerging markets where there is a growing demand for high-quality healthcare facilities. Through these efforts, Welltower is poised to continue its leadership in the healthcare real estate industry for years to come.
Over the past few years, Welltower’s Board of Directors has accomplished several significant milestones. They have overseen significant growth in the company’s portfolio, including strategic acquisitions and divestitures that have positioned Welltower for continued success. Additionally, the board has prioritized innovation and sustainability, taking steps towards a more environmentally sustainable business model and investing in technologies that improve resident outcomes.
Welltower’s Board of Directors has had a significant impact on the healthcare industry by pioneering the development of the healthcare real estate sector. The company has helped to transform healthcare delivery by providing operators with access to the capital they need to provide high-quality care to seniors. Additionally, the board’s focus on sustainability and innovation has led to new technologies and processes that have improved outcomes for residents across the industry.
Welltower’s Board of Directors recognizes the importance of sustainability to its business and is fully committed to reducing the environmental impact of its operations. The company has set ambitious sustainability goals, such as achieving net-zero carbon emissions from its owned and managed properties by 2050. The board is continuously developing and implementing sustainability initiatives, which have helped position Welltower as a leader in sustainable business practices in the healthcare industry.
Welltower’s Board of Directors is committed to ensuring that it has the right mix of skills, experience, and diversity to effectively govern the company. The board follows a rigorous process for identifying and selecting new members, based on a set of predefined criteria that are aligned with the company’s needs and values. The board is committed to maintaining a diverse and inclusive board, ensuring that all voices are heard and that all perspectives are represented.
Welltower is committed to maintaining transparent and ethical business practices and is open to addressing questions or concerns about its governance practices. The company has various forums where shareholders, investors, and other stakeholders can raise concerns and communicate with management and board members, including the annual general meeting, quarterly earnings calls, and other events. Additionally, Welltower regularly reviews its governance practices to ensure they remain effective and aligned with industry best practices.
In conclusion, Welltower’s Board of Directors provides invaluable leadership and guidance to the company, ensuring that it remains at the forefront of the healthcare industry. The board’s diverse expertise and experience have been critical in shaping Welltower’s success and in positioning it for future growth and sustainability. The board’s commitment to excellence in governance and its vision for the future has cemented its position as a leader in the healthcare real estate sector.
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