W. P. Carey Says President John Park To Step Down Effective September 30, 2024
(RTTNews) - Net lease REIT W. P. Carey, Inc. (WPC) announced Wednesday that John Park will step down as President of the company effective September 30, 2024. He has been an integral member of the W. P. Carey team for nearly 37 years.
Park will serve as Senior Advisor to the company through February 2025 and will continue to serve as a Trustee of Net Lease Office Properties (NLOP) and the W. P. Carey Foundation.
The separate role of President will be eliminated, and the title will be assumed by Jason Fox, the company's Chief Executive Officer.
Park joined W. P. Carey in 1987, working alongside Founder Polk Carey in various roles of increasing responsibility.
He led many of W. P. Carey's transformative transactions, including the consolidation and NYSE listing of CPA:1-9 as Carey Diversified LLC in 1998, its merger with W. P. Carey & Co. Inc. in 2000, W. P. Carey's merger with CPA:15 and REIT conversion in 2012, and the company's subsequent mergers with CPA:16, CPA:17 - Global and CPA:18 - Global.
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