Vital Healthcare chair Graeme Horsley to retire next month

Wednesday 4th April 2018

Graeme Horsley will retire as chair of Vital Healthcare Property Trust's manager next month for personal reasons, while chief executive David Carr will join the board.

Horsley will depart the board of Vital Healthcare manager NorthWest Healthcare Properties Management on May 1, with Claire Higgins taking over as chair, the company said in a statement. Carr will join the board the same day, although the board make-up is an interim one and will be reviewed no later than the next annual meeting.

“I had indicated at the Vital annual meeting in 2017 that the current term would be my last as a director. Personal circumstances are now such that I have determined to accelerate my plans and retire at this time," Horsley said.

NorthWest Healthcare Properties Management is a subsidiary of Canada's NorthWest Healthcare Properties REIT. Paul Dalla Lana, chief executive of the parent company, said "Graeme has been instrumental in the growth and success of Vital since he joined the board in 2007 and became chairman in 2011. During his tenure Vital has observed compound average total annual returns of 12.0 percent, well ahead of the local listed property sector average of 6.6 percent."

Vital Healthcare units rose 0.7 percent to $2.075, having fallen 6.8 percent so far this year.

(BusinessDesk)

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