Invesque, Inc. Announces Appointment of Adlai Chester to CEO, Quinn Haselhorst to CFO and Proposed Changes to Board of Directors
April 29, 2024 (TORONTO) – Invesque Inc. (TSX: IVQ.U and IVQ) (“Invesque” or the “Company”) announced today that Scott White, Chairman and Chief Executive Officer, will resign from his role as Chief Executive Officer effective May 10, 2024. Mr. White will continue to serve as Chairman of the Board of Directors (the “Board”) and will remain with the Company in an advisory capacity.
Adlai Chester, who currently serves as Chief Financial Officer, and Executive Vice President of Investments for the Company and a Director on its Board, will assume the Chief Executive Officer role upon Mr. White’s departure. Mr. Chester has been with Invesque since 2017, and has more than 20 years of finance, real estate, investment, development, and capital markets experience. Simultaneous with Mr. Chester assuming the Chief Executive Officer role, Quinn Haselhorst will step into the Chief Financial Officer position. Mr. Haselhorst has been part of the Invesque team since its formation in 2015 and is currently Senior Vice President of Finance. Mr. Haselhorst is a CPA and has fifteen years of accounting and finance experience, the majority of which has been spent in the healthcare real estate industry.
The Company also announced its intention to reduce the size of its Board ahead of the annual general meeting (the “AGM”) scheduled to be held on June 20, 2024. Randy Maultsby, who was Tiptree Inc.’s nominee on the Board until its recent sale of all of its shares in the Company, resigned as a director. Current Board member and Audit Committee Chair, Gail Steinel, is expected to assume the role of Lead Independent Director. In addition to Ms. Steinel, the Company is proposing the following Board members be nominated to stand for election by shareholders at the AGM:
- Scott White, Chairman
- Gail Steinel, Lead Independent Director
- Adlai Chester
- Brad Benbow
- Shaun Hawkins
Additional Information
Additional information, including financial statements and management’s discussion and analysis can be found on the Company’s website or on SEDAR+.
About Invesque
The Company is a North American health care real estate company with an investment thesis focused on the premise that an aging demographic in North America will continue to utilize health care services in growing proportion to the overall economy. The Company currently capitalizes on this opportunity by investing in a portfolio of income-generating predominantly private pay seniors housing communities. The Company’s portfolio includes investments primarily in independent living, assisted living, and memory care, which are operated under long-term leases and joint venture arrangements with industry-leading operating partners. The Company’s portfolio also includes investments in owner-occupied seniors housing properties in which the Company owns the real estate, the licensed operations, and provides management services through Commonwealth Senior Living, LLC, a Delaware limited liability company (“Commonwealth”).
For more information: ir@invesque.com