John Sweet Resigns as Chairman of Wheeler Real Estate Investment Trust, Inc.
May 20 2019 - 5:28PM
Wheeler Real Estate Investment Trust, Inc.
(NASDAQ:WHLR) (“Wheeler” or the “Company”), a
fully-integrated, self-managed commercial real estate investment
company focused on owning and operating income-producing retail
properties with a primary focus on grocery-anchored centers,
announced today that effective immediately, John Sweet has decided
to resign as Chairman of the Wheeler Board to pursue other
endeavors. Mr. Sweet has served on the Wheeler Board of Directors
since 2016.
Commenting on his departure, John Sweet stated,
“I have an opportunity which will require my full attention going
forward. With the current board in place, I am confident that our
current and long-term plans for the Company can be realized without
any interruptions due to my departure. I extend to management,
employees and Board members of Wheeler REIT my very best
wishes.”
Dave Kelly, Chief Executive Officer stated, “We
want to thank John for his many contributions over the last few
years. His real estate expertise and financial acumen have been
invaluable as we continue our transformation efforts. We wish him
much success in his new endeavor.”
The Board of Directors is currently discussing
steps to replace Mr. Sweet. Once a candidate has been named, the
Company will make a public announcement.
ABOUT WHEELER REAL ESTATE INVESTMENT
TRUST, INC.
Headquartered in Virginia Beach, VA, Wheeler
Real Estate Investment Trust, Inc. is a fully integrated,
self-managed commercial real estate investment company focused on
owning and operating income-producing retail properties with a
primary focus on grocery-anchored centers. Wheeler’s portfolio
contains well-located, potentially dominant retail properties in
secondary and tertiary markets that generate attractive,
risk-adjusted returns, with a particular emphasis on
grocery-anchored retail centers. For additional information about
the Company, please visit: www.whlr.us.
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking”
statements as defined in the Private Securities Litigation Reform
Act of 1995. When the Company uses words such as “may,” “will,”
“intend,” “should,” “believe,” “expect,” “anticipate,” “project,”
“estimate” or similar expressions that do not relate solely to
historical matters, it is making forward-looking statements.
Forward-looking statements are not guarantees of future performance
and involve risks and uncertainties that may cause the actual
results to differ materially from the Company’s expectations
discussed in the forward-looking statements. The Company’s expected
results may not be achieved, and actual results may differ
materially from expectations. Specifically, the Company’s
statements regarding: 1) its transformation efforts and long-term
plans; and 2) replacement plans for Mr. Sweet are forward looking
statements. These statements are not guarantees of future
performance and are subject to risks, uncertainties and other
factors, some of which are beyond our control, are difficult to
predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements.
For these reasons, among others, investors are cautioned not to
place undue reliance upon any forward-looking statements in this
press release. Additional factors are discussed in the Company's
filings with the U.S. Securities and Exchange Commission, which are
available for review at www.sec.gov. The Company undertakes no
obligation to publicly.
CONTACT: Mary JensenInvestor Relations(757)
627-9088mjensen@whlr.us
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