Posted 20 November, 2023
DIVERSIFIED HEALTHCARE TRUST appointed Christopher J. Bilotto as new CEO
Nasdaq:DHC appointed new Chief Executive Officer Christopher J. Bilotto in a 8-K filed on 20 November, 2023.
On November 17, 2023, our Board of Trustees, or the Board, appointed Christopher J. Bilotto as our President and Chief Executive Officer, effective January 1, 2024.
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Overview of DIVERSIFIED HEALTHCARE TRUST
Real Estate/Construction • Healthcare REITs
Diversified Healthcare Trust is a real estate investment trust, which engages in the ownership of senior living communities, medical office buildings, and wellness centers. It operates through the following segments: Office Portfolio, Senior Housing Operating Portfolio (SHOP), and Non-Segment. The Office Portfolio segment consists of medical office properties leased to medical providers and other medical related businesses, as well as life science properties leased to biotech laboratories and other similar tenants. The SHOP segment manages senior living communities that offers short term and long term residential care, and other services for residents where it pay fees to the operator to manage the communities for its account. The company was founded on December 16, 1998 and is headquartered in Newton, MA.Market Cap
$743M
View Company Details
$743M
Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 17, 2023, our Board of Trustees, or the Board, appointed Christopher J. Bilotto as our President and Chief Executive Officer, effective January 1, 2024. Mr. Bilotto, age 46, has been an executive vice president of our manager, The RMR Group LLC, or RMR, since October 2023, senior vice president of RMR from October 2020 to September 2023 and a vice president of RMR from 2016 to September 2020. Mr. Bilotto is responsible for overseeing portfolio management for all office, industrial and retail properties managed by RMR and hotel and senior living asset management, as well as development and redevelopment across the United States. Prior to joining RMR in 2011, Mr. Bilotto worked at General Growth Properties in various management roles. Mr. Bilotto currently serves as president and chief executive officer of Office Properties Income Trust, but he has resigned from those positions effective December 31, 2023. There is no arrangement or understanding between Mr. Bilotto and any other person pursuant to which Mr. Bilotto was appointed as our President and Chief Executive Officer. There are no transactions, relationships or agreements between Mr. Bilotto and us that would require disclosure pursuant to Item 404(a) of Regulation S-K. Mr. Bilotto does not have a family relationship with any member of the Board or any of our executive officers. Mr. Bilotto will replace Jennifer F. Francis, who is retiring from RMR on June 30, 2024, and therefore has resigned as our President and Chief Executive Officer, effective December 31, 2023. In connection with Mr. Bilotto's appointment as our President and Chief Executive Offer, we will enter into an indemnification agreement with Mr. Bilotto, which agreement will be on substantially the same terms as the indemnification agreements we have entered with our Trustees and other executive officers. We have previously filed a form of indemnification agreement as Exhibit 10.6 to our Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, which form is incorporated herein by reference.
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