NEW
GLASGOW, NS, Jan. 23,
2024 /CNW/ - Crombie Real Estate Investment Trust
("Crombie") (TSX: CRR.UN) today announced that Clinton Keay will be resigning as Chief
Financial Officer ("CFO"), effective February 23, 2024. Clinton will be joining Empire
Company Limited as Senior Vice President, Corporate Finance.
Kara Cameron, currently Vice
President, Accounting and Financial Reporting, at Crombie will
serve as Interim CFO while a search for a permanent CFO is
conducted. Ms. Cameron is a chartered professional accountant with
nearly 20 years of experience in progressively senior financial
leadership roles, including five years in her current role at
Crombie.
"Since joining Crombie in 2019, Clinton has made important
contributions to the growth and success of the REIT, as reflected
by our financial strength and best in class balance sheet," said
Mark Holly, President and CEO. "On
behalf of the entire Crombie team, I would like to thank Clinton
for all of his contributions during his tenure with the REIT and
wish him all the best."
"We are fortunate to have deep bench strength within our Finance
function and are pleased that Kara will be stepping into the
Interim CFO role to facilitate a seamless transition while we
complete the process of selecting a permanent CFO," Holly said.
About Crombie REIT
Crombie invests in real estate that
enriches local communities and enables long-term sustainable
growth. As one of the country's leading owners, operators, and
developers of quality real estate, Crombie's portfolio primarily
includes grocery-anchored retail, retail-related industrial, and
mixed-used residential properties in Canada's top urban and suburban markets. As at
September 30, 2023, our portfolio
contains 294 income-producing properties comprising approximately
18.7 million square feet, and a significant pipeline of future
development projects. Learn more at www.crombie.ca.
Cautionary Statements
This press release contains
forward-looking statements that reflect the current expectations of
management of Crombie about Crombie's future results, performance,
achievements, prospects, and opportunities. Wherever possible,
words such as "may", "will", "estimate"," anticipate", "believe",
"expect", "intend", and similar expressions have been used to
identify these forward-looking statements.
Specifically, this press release includes forward-looking
statements regarding expected timing of Mr. Keay's departure and
Crombie's plans for an interim CFO and search for a permanent CFO.
These statements reflect current beliefs and are based on
information currently available to management of Crombie.
Forward-looking statements necessarily involve known and unknown
risks and uncertainties. A number of factors, including those
discussed in the 2022 annual Management's Discussion and Analysis
under "Risk Management" and the Annual Information Form for the
year ended December 31, 2022 under
"Risks", could cause actual results, performance, achievements,
prospects, or opportunities to differ materially from the results
discussed or implied in the forward-looking statements. These
factors should be considered carefully, and a reader should not
place undue reliance on the forward-looking statements. There can
be no assurance that the expectations of management of Crombie will
prove to be correct, and Crombie can give no assurance that actual
results will be consistent with these forward-looking
statements.
SOURCE Crombie REIT