NEWTON, Mass.--(BUSINESS WIRE)--
The RMR Group Inc. (Nasdaq: RMR) today announced that John C. Popeo,
Executive Vice President, and Mark L. Kleifges, Executive Vice
President, have both announced their intent to retire and therefore have
resigned from their positions with RMR and its managed companies
effective November 30, 2018 and December 31, 2018, respectively.
Both Mr. Popeo’s and Mr. Kleifges’s roles and responsibilities at RMR
and its managed companies will be assumed by other RMR personnel. To
ensure a smooth transition, Mr. Popeo will remain a non-executive
employee of RMR until his retirement on March 30, 2019 and Mr. Kleifges
will remain a non-executive employee of RMR until his retirement on June
30, 2019. Both Mr. Popeo and Mr. Kleifges will be available to assist
RMR on an as needed basis thereafter.
Adam Portnoy, Managing Director, President and Chief Executive Officer
of RMR, made the following statement:
“We congratulate John and Mark on their retirements and thank them for
their many years of dedication and service to RMR and its managed
companies. Both John and Mark have been strong contributors to the
success of RMR and its managed companies over the past two decades, and
both have been instrumental in preparing the next generation of leaders
at RMR. In fact, one of the things I am most proud of is that RMR has a
deep pool of talented individuals ready to assume leadership positions
in connection with their retirements. To this end, I am confident that
we have identified the right team of leaders to assume John’s and Mark’s
positions at RMR and its managed companies and that we have established
a thoughtful transition plan over the coming months.”
The RMR Group Inc. is a holding company and substantially all of its
business is conducted by its majority-owned subsidiary, The RMR Group
LLC. The RMR Group LLC is an alternative asset management company that
primarily provides management services to publicly traded REITs and real
estate operating companies. As of June 30, 2018, The RMR Group LLC had
approximately $30.0 billion of total assets under management, including
more than 1,700 properties and employed almost 600 real estate
professionals in more than 35 offices throughout the United States; the
companies managed by The RMR Group LLC collectively had over 52,000
employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181025006027/en/
The RMR Group Inc.
Timothy A. Bonang, 617-796-8230
Senior Vice
President
Source: The RMR Group Inc.