Paul resignsWhiterock REIT Announces Management Change
TORONTO, Oct. 23 /CNW/ -Whiterock Real Estate Investment Trust ("Whiterock") (TSX: WRK.UN), agrowth oriented real estate investment trust focused on increasingUnitholder value through the strategic acquisition, ownership andmanagement of well-located, long-term leased office, industrial andretail properties across Canada, announced today thatPaul Simcoxwill be resigning as Executive Vice President and a member of Whiterock's board, effective January 1, 2010.
"Paul is a co-founder of Whiterock and his contribution andexpertise have been extremely valuable in Whiterock's growth from astart-up company to a fully integrated 3.4 million square foot realestate platform anchored by high credit tenants with long-term leases,as well as its positive future outlook. We are fortunate to have anexcellent team in place companywide, and I am confident that our teamhas the skills to continue to advance our business plan and guideWhiterock through the next period of its growth," saidJason Underwood, CEO.
"On behalf of the Board I wish to thank Paul for his dedicatedservice and leadership and wish him well in his new endeavors," said OzPedde, Chairman of the Board of Whiterock. "Whiterock and its employeescontinue to be fully committed to its operational and financial successin the marketplace and, in turn, creating long-term sustainableshareholder value," he added.
"I am proud to have been a part of the development of Whiterockduring the past 5 years and I am confident that I will be leaving it incapable hands. I intend to begin pursuing other entrepreneurialendeavors in the coming months but will be assisting and consulting asrequired in the transition of my responsibilities to the existingmanagement team," saidPaul Simcox.