Retirement Residences Real Estate Investment Trust Appoints New Executives.TORONTO -- Retirement Residences Real Estate Investment Trust ("Retirement REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :RRR See Required Rate of Return. .UN)(TSX:RRR.DB.B)(TSX:RRR.DB.C) today announced the appointment of Alan Torrie as Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. and Mike Hubbert as Senior Vice President, Canadian Retirement Operations. Derek Watchorn, President and Chief Executive Officer of Retirement REIT, commented: "Our new executives bring a broad range of strategy and leadership expertise that are important to Retirement REIT's growth initiatives and ensuring that our 25,000 residents continue to receive the best possible care. Alan and Mike have proven themselves as dedicated and successful executives and we are very excited about Retirement REIT's future with their addition to our senior management team." Mr. Torrie was appointed Chief Operating Officer. In this position, all executives in Retirement REIT's retirement and long term care operations in Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. will report directly to him. Mr. Torrie served most recently as Executive Vice President for MDS MDS, n See temporomandibular pain-dysfunction syndrome. MDS 1 Maternal deprivation syndrome, see there 2 Myelodysplastic syndrome, see there Inc., a global health and life sciences company, where he spent 15 years in a variety of senior management positions. He has also been the President and Chief Executive Officer of Joseph Brant Hospital. Mr. Hubbert has been providing interim leadership to Retirement REIT's Canadian Retirement Operations for the past six months. His appointment as Senior Vice President, Canadian Retirement Operations allows for continuation of the initiatives that have begun under his leadership. Previously Mr. Hubbert was Executive Vice President and Chief Operating Officer of Nexinnovations Ltd., President and Chief Operating Officer of Mortice Kern Systems Inc. and President and Chief Executive Officer of Systemhouse Europe Ltd.. Retirement REIT is the largest provider of accommodation and care for seniors in Canada. Retirement REIT owns 214 retirement and long term care facilities, including 32 facilities in select United States markets, and provides management services to 11 homes for other parties, with an aggregate resident capacity in excess of 25,000. Retirement REIT also provides nursing placement and in-home health care through its Central Health Services health services Managed care The benefits covered under a health contract and Central Med units. For further information, see the Retirement REIT website at www.retirementreit.com. Retirement Residences Real Estate Investment Trust (TSX:RRR.UN) (TSX:RRR.DB.B) (TSX:RRR.DB.C) |
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