The RMR Group Inc. Announces Management Retirements


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.

The RMR Group Inc.
Timothy A. Bonang, 617-796-8230
Senior Vice President

Source: The RMR Group Inc.

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