SAN
DIEGO, June 22, 2023 /PRNewswire/ -- Realty
Income Corporation (Realty Income, NYSE: O), The Monthly Dividend
Company®, is pleased to announce the transition of
its Chief Financial Officer (CFO) and Treasurer roles from
Christie Kelly to Jonathan Pong, currently the company's Head of
Corporate Finance, effective January 1,
2024. The decision to appoint Mr. Pong as the new CFO comes
as Ms. Kelly has decided to retire at the end of the year and
follows a planned succession process. He will report to Realty
Income's President and CEO, Sumit
Roy.
Mr. Pong brings a wealth of experience and a deep understanding
of Realty Income's financial operations. Since joining the company
in 2014, he has played a pivotal role in the company's growth and
has consistently demonstrated his expertise in financial management
and strategic planning. In his current role as Senior Vice
President and Head of Corporate Finance, Mr. Pong oversees the
company's capital markets, derivatives, financial planning and
analysis and investor relations functions, and has spearheaded key
initiatives that have contributed to the company's financial
success. His comprehensive knowledge of our business, combined with
his strategic mindset and leadership skills, make him the ideal
candidate to lead the finance and accounting function.
"This thoughtfully planned transition represents our commitment
to harness the expertise and insights of a dedicated internal
leader in a broader capacity, to bring sustainable leadership
success by someone who has consistently demonstrated exceptional
financial acumen and positively impacted our organization. I have
worked with Jonathan for nine years, seen him evolve, and have
tremendous confidence in his abilities. I'd like to thank
Christie for her many contributions, including playing a key role
getting us through the challenges brought on by the pandemic, and
leading us through a very successful merger integration. I am
grateful for Christie's partnership and wish her continued
success," said Mr. Roy.
"Jonathan is the ideal person to lead our finance organization
going forward as we continue to focus on growth and scalability,"
added Michael D. McKee, Chairman of
the Board of Directors. "He is a strong leader who has built a
great team around him and as we move forward the team is in great
hands with Jonathan. This move follows a planned succession
process, and on behalf of the entire board of directors, we look
forward to working with Jonathan in the years ahead. I'd also like
to express our sincere appreciation to Christie for her many
contributions during her tenure as CFO. We wish her the very
best."
"I am honored to have been selected as the new CFO of Realty
Income," said Mr. Pong. "I look forward to continuing the strong
financial stewardship that the company has established during its
54-year history. Together with our talented and committed finance
and accounting team, I am confident that we will navigate the
rapidly evolving market landscape and drive sustainable shareholder
value for years to come."
The transition to Mr. Pong has been contemplated for some time,
with a seamless handover process planned to ensure a smooth
transition of responsibilities. Ms. Kelly, outgoing CFO, expressed
her confidence in Mr. Pong's ability to lead the finance team.
"Jonathan has been an invaluable asset to the company, and I am
confident that he will excel in his new role as CFO," said Kelly.
"His extensive knowledge of our financial operations and his
unwavering dedication to the company's success make him the natural
choice for this position."
Prior to joining Realty Income in 2014, Mr. Pong was a Vice
President in Equity Research at Robert W. Baird covering the REIT
sector and began his career with Deloitte & Touche LLP. He
earned a bachelor's degree in accounting from the University of Southern California and an MBA from
Cornell University. He is a CFA
charterholder and Certified Public Accountant.
About Realty Income
Realty Income, The Monthly Dividend Company®, is an
S&P 500 company and member of the S&P 500 Dividend
Aristocrats® index. We invest in people and places to
deliver dependable monthly dividends that increase over time. The
company is structured as a REIT, and its monthly dividends are
supported by the cash flow from over 12,400 real estate properties
primarily owned under long-term net lease agreements with
commercial clients. To date, the company has declared 636
consecutive common stock monthly dividends throughout its 54-year
operating history and increased the dividend 121 times since Realty
Income's public listing in 1994 (NYSE: O). Additional information
about the company can be obtained from the corporate website at
www.realtyincome.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Exchange Act of 1934, as amended. When used in this
press release, the words "estimated," "anticipated," "expect,"
"believe," "intend," "continue," "should," "may," "likely,"
"plans," and similar expressions are intended to identify
forward-looking statements. Forward-looking statements include
discussions of future operations and results, our business and
portfolio and the announcement of plans and the intentions of
management including the transition of the role of CFO and
Treasurer. Forward-looking statements are subject to risks,
uncertainties, and assumptions about us, which may cause our actual
future results to differ materially from expected results. Some of
the factors that could cause actual results to differ materially
are, among others, the ability to satisfy the conditions to closing
of the proposed transaction, and the timing thereof; the outcome of
our due diligence review; our continued qualification as a REIT;
general domestic and foreign business and economic or financial
conditions; competition; fluctuating interest and currency rates;
inflation and its impact on our clients and us; access to debt and
equity capital markets and other sources of funding; continued
volatility and uncertainty in the credit markets and broader
financial markets; other risks inherent in the real estate business
including our clients' defaults under leases, increased client
bankruptcies, potential liability relating to environmental
matters, illiquidity of real estate investments, and potential
damages from natural disasters; impairments in the value of our
real estate assets; changes in domestic and foreign income tax laws
and rates; our clients' solvency; property ownership through joint
ventures and partnerships which may limit control of the underlying
investments; the continued evolution of the COVID-19 pandemic or
future epidemics or pandemics, measures taken to limit their
spread, the impacts on us, our business, our clients (including
those in the theater and fitness industries), and the economy
generally; the loss of key personnel; the outcome of any legal
proceedings to which we are a party or which may occur in the
future; acts of terrorism and war; any effects of uncertainties
regarding whether the anticipated benefits or results of our merger
with VEREIT, Inc. will be achieved; and those additional risks and
factors discussed in our reports filed with the U.S. Securities and
Exchange Commission. Readers are cautioned not to place undue
reliance on forward-looking statements. Forward-looking statements
are not guarantees of future plans and performance and speak only
as of the date of this press release. Actual plans and operating
results may differ materially from what is expressed or forecasted
in this press release. We do not undertake any obligation to update
forward-looking statements or publicly release the results of any
forward-looking statements that may be made to reflect events or
circumstances after the date these statements were made.
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SOURCE Realty Income Corporation