HCP CFO leaving in May
Timothy Schoen will leave his role as executive vice president and chief financial officer at real estate investment trust HCP Inc. May 22 to become president of BioMed Realty, HCP announced March 28. BioMed, a real estate company serving the life science industry, recently was acquired by real estate funds managed by Blackstone for approximately $8 billion.
Schoen will stay at HCP to oversee reporting of first-quarter earnings and to ensure a smooth transition of his duties, HCP said. The company has retained executive search firm Spencer Stuart to find his successor.
“We have a detailed transition plan in place and are grateful that Tim will remain in his position for the next two months to help us with the process,” Lauralee Martin, HCP president and CEO, said in a statement.
Schoen joined HCP in 2006 and from 2009 to 2011 was EVP of life science and investment management, during which time he led HCP's life science platform. He has been EVP and CFO since 2011.
“It is difficult to leave a great company for which I feel privileged to have worked for the past 10 years,” Schoen said. “I am very proud of our accomplishments, and I have greatly appreciated the opportunity to work closely with our executive management and many dedicated colleagues at HCP, including our outstanding finance, accounting and tax team. I am confident that HCP will attract a well-qualified successor and will continue to achieve great success in the future.”
Martin said Schoen was “a true partner and a valued and effective member of our leadership team. His contributions have strengthened our organization and positioned us well for the future.”