INCOME OPPORTUNITY REALTY INVESTORS INC /TX/ appointed new CEO

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers


Effective as of December 16, 2021, the Board of Directors of Income Opportunity Realty Investors, Inc. (the "Company" or the "Issuer" or "IOR") appointed Bradley J. Muth, age 61, President and Chief Executive Officer of the Company. Mr. Muth most recently, from July 2019 to September 2021, was Senior Managing Director, Capital Markets and Development of ValueRock Realty Partners, an Irvine, California based national real estate investment services firm, focusing on value-ad commercial real estate throughout California, Hawaii and Arizona. Prior thereto, from December 2014 to June 2019, he was Senior Managing Director, Portfolio and Asset Management of Madison Marquette, a leading commercial real estate investment manager, service provider, developer and operator of real property based in San Francisco, California and Washington, DC. From 2012 to 2014, he was Chief Investment Officer of Buckingham Companies, a real estate investment firm engaged in the multifamily sector. Mr. Muth, from 1994 to 2012, was Managing Principal or Senior Managing Partner of ING/Concert Realty Partners, a real estate investment and operations firm. He has been engaged in the real estate industry for more than 30 years. He is also a certified public accountant (1984).


Also as of December 16, 2021, the Board of Directors of the Company appointed Erik L. Johnson, age 53, Executive Vice President and Chief Financial Officer of the Company. Mr. Johnson has been Executive Vice President and Chief Financial Officer (since August 17, 2020) of Transcontinental Realty Investors, Inc. ("TCI") and American Realty Investors, Inc. ("ARL"), both of whose Common Stock is listed and traded on the New York Stock Exchange (the "NYSE"). He is also Chief Financial Officer (since July 1, 2020) of Pillar Income Asset Management, LLC ("Pillar"). Mr. Johnson, a Certified Public Accountant, was most recently Vice President of Financial Reporting of The Macerich Company (NYSE:MAC) in Santa Monica, California, a position he held for more than the past five years, from 2005 through June 2020. Mr. Johnson was, from 2001-2005, Controller/Chief Accounting Officer of North American Scientific, Inc. (NASDAQ:NASI), based in Los Angeles, California, and, from 2000-2001, he was Controller of Launch Media, Inc. (NASDAQ:LAUN) in Santa Monica, California.