01—Abstract
Summary
Summary of the 8-K filed May 30, 2024. Cited figures are marked; the original filing is the authoritative source.
Realty Income Corporation (O) has announced a key leadership change within its accounting department.
Effective June 27, 2024, Neale Redington will assume the role of Senior Vice President and Chief Accounting Officer, succeeding Sean Nugent. Mr. Nugent will continue his service as Senior Vice President and Controller. Mr. Redington brings extensive experience to Realty Income, having previously served as Chief Accounting Officer for Colony Capital, Inc. (now Digital Bridge Group, Inc.) from 2008 to 2021, and in various CFO roles thereafter.
His background also includes a significant tenure as an Audit Partner at Deloitte & Touche LLP. Investors can view this as a move to leverage seasoned financial leadership for the company's ongoing operations and future growth.
02—Key points
Key Highlights
- Appointment of Neale Redington as Senior Vice President and Chief Accounting Officer, effective June 27, 2024.
- Sean Nugent will transition from principal accounting officer to continue as Senior Vice President and Controller.
- Mr. Redington brings over two decades of accounting and financial leadership experience, including a long tenure as CAO of Colony Capital.
- His previous roles include CFO at Colony Credit Real Estate and significant experience from Deloitte & Touche LLP as an Audit Partner.
- Mr. Redington's compensation includes a base salary of $350,000, a target annual cash bonus of $350,000, and a 2024 target annual restricted stock award valued at $600,000.
- No disclosed family relationships or reportable transactions between Mr. Redington and the Company's directors or executive officers.
03—Questions
Frequently Asked Questions
Who is replacing Sean Nugent as Chief Accounting Officer?
Neale Redington has been appointed as the new Senior Vice President and Chief Accounting Officer, effective June 27, 2024.
What will Sean Nugent's role be after the transition?
Sean Nugent will continue to serve the Company as Senior Vice President and Controller.
What is Neale Redington's relevant experience?
Mr. Redington has substantial experience, including serving as Chief Accounting Officer of Colony Capital, Inc. (now Digital Bridge Group, Inc.) from 2008 to 2021, and holding CFO positions at Colony Credit Real Estate, Inc. (now Brightspire Capital, Inc.) and other roles at Deloitte & Touche LLP.
What is Neale Redington's compensation package?
His compensation includes a base salary of $350,000, a target annual cash bonus of $350,000, and a 2024 target annual restricted stock award valued at $600,000.
04—Continue