IRVINE, Calif. — Justin Hutchens will leave his post as president of HCP (NYSE: HCP) to become CEO of HC-One, a major seniors housing operator in the United Kingdom. Hutchens will remain in his current role at HCP through June 1 to help with the transition and the first quarter earnings report.
Hutchens joined HCP in 2015, and has served as president since January 2017. Prior to that, he served as executive vice president and chief investment officer. Prior to his position at HCP, Hutchens was CEO at National Health Investors, another publicly traded REIT.
HCP retained Russell Reynolds Associates, a global executive search firm, to help recruit a new chief investment officer.
"Though we are disappointed to lose such a talented and experienced executive, we are fortunate that Justin has helped build a strong operational infrastructure within HCP, backed by a deep pool of talent, that positions us well for future growth,” says Mike McKee, Executive Chairman of HCP. “We look forward to continuing to work with Justin, both through the transition and in his new role at our client HC-One, and we wish him every success."
HCP is a publicly traded healthcare and seniors housing REIT based in Irvine. As of June 1, 2016, the company owned 470 seniors housing properties totaling 49,000 units, making it the fourth largest owner of seniors housing in the United States, according to the American Seniors Housing Association.
HCP’s stock price closed at $31.28 per share on Friday, March 31, down from $32.61 one year ago.