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W.P. Carey CEO exits as company undergoes strategic review

February 16, 2016

Trevor Bond is stepping down two weeks before the firm releases Q4 and yearly earnings. The company said in November it was exploring breaking up into three businesses.

Feb 11, 2016 @ 12:54 pm | By Bruce Kelly | Investment News

In an unexpected move, the large net lease real estate investment trust and REIT manager W.P. Carey Inc. said Wednesday its CEO and a member of its board, Trevor Bond, was stepping down.

He is being replaced by current Carey board member and former chief financial officer Mark J. DeCesaris, who served as an executive for the company from 2005 to 2013.

The market reacted negatively to the news. At noon on Thursday, shares of W.P. Carey had dropped $4.27 per share, or 7.6%. Shares were trading at $51.62.

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