STAG Industrial, Inc. Appoints William R. Crooker as Chief Executive Officer
July 06, 2022 at 01:36 am IST
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STAG Industrial, Inc. announced that, pursuant to its previously announced management succession plan, effective July 1, 2022 the Board of Directors appointed William R. Crooker to the role of Chief Executive Officer, in addition to his current role as President, and further appointed Mr. Crooker to the Board. As Chief Executive Officer, Mr. Crooker will lead and manage the Company's business, execute the strategies developed by management and the Board and serve as the chief spokesperson to the Company's employees, stockholders and business counterparties. Additionally, Benjamin S. Butcher transitioned from Chief Executive Officer to Executive Chairman of the Board.
As Executive Chairman, Mr. Butcher will manage the business of the Board, regularly consult with Mr. Crooker on key corporate matters and serve as a liaison between the Board and the management team.
STAG Industrial, Inc. is a real estate investment trust (REIT), which is focused on the acquisition, ownership and operation of industrial properties throughout the United States. The Companyâs is designed to identify properties for acquisition that offer relative value across all locations, industrial property types, and tenants through the principled application of its risk assessment model. Its primary business objectives are to own and operate a balanced and diversified portfolio of binary risk investments that maximize cash flows available for distribution to its stockholders, and to enhance stockholder value over time by achieving sustainable long-term growth in distributable cash flow from operations per share. The Company owns approximately 569 buildings in 41 states with 112.3 million rentable square feet, consisting of approximately 493 warehouse/distribution buildings, 70 light manufacturing buildings, one flex/office building, and five value add portfolio buildings.