Harry Hyman, founder and chief executive of Primary Health Properties PLC (LSE:PHP, OTC:PHPRF), has been appointed chairman of the real estate investment trust, pending shareholder approval.
Hyman will succeed Steven Owen, who will remain as chairman until the conclusion of the 2024 annual general meeting scheduled for 24 April.
As previously announced, seasoned REIT expert Mark Davies will take over as chief executive.
The board stated that Hyman's knowledge and expertise gained over nearly 30 years in the primary care property sector “will continue to be invaluable and highly relevant to the group's future success”.
Ian Krieger, senior independent director, commented: "On behalf of the board I would like to express our thanks to Steven Owen, who will be retiring from the board at the 2024 AGM after six years as chairman having previously served for four years as a non-executive director.
“Steven has led the board with great skill and his contribution to the success of PHP has been immense.
"I am delighted that Harry has agreed to succeed Steven as chairman and together with our new CEO Mark Davies, chief financial officer Richard Howell, and chief investment officer David Bateman, Primary Health Properties will have in place a formidable leadership team that will continue to build on the success of the business."
Hyman’s term will be a maximum of three years.
The board is starting a process to recruit a fourth independent, non-executive director.