👀 Ones to watch: Undervalued stocks to buy before they report Q3 earningsSee Undervalued Stocks

Four Corners Property Trust names new CFO

EditorNatashya Angelica
Published 07/03/2024, 21:26
© Reuters.
FCPT
-

MILL VALLEY, Calif. - Four Corners Property Trust (NYSE:FCPT), a real estate investment trust specializing in leased restaurant and retail properties, announced the upcoming promotion of Patrick Wernig to Chief Financial Officer. Wernig is expected to take over the role after the company's financial results for the quarter ending March 31, 2024, are released.

The current CFO, Gerry Morgan, will retire on May 3, 2024, but will remain in an advisory capacity to aid the transition.

Wernig, who joined FCPT in 2016 and has led the acquisition team since 2018, is set to succeed Morgan following a period of transition and pending formal appointment by the Board of Directors. His prior experience includes several years at J.P. Morgan's investment banking group, where he focused on the real estate and gaming sectors.

Bill Lenehan, CEO of FCPT, expressed gratitude to Morgan for his significant contributions to the company's growth since its spin-off from Darden (NYSE:DRI) in 2015. Lenehan highlighted Wernig's deep understanding of capital markets and the company's acquisitions process as valuable assets for his upcoming role as CFO.

Morgan reflected positively on his tenure, commending the support from Lenehan and the Board, and expressed confidence in leaving the company in capable hands with Wernig and the executive team. He also acknowledged Niccole Stewart, the company's Chief Accounting Officer, for her expertise and partnership.

John Moody, Chair of FCPT's Board, recognized Morgan's role as a financial steward and expressed optimism for Wernig's future contribution to the company.

FCPT, headquartered in Mill Valley, California, focuses on growing its portfolio through the acquisition and leasing of additional real estate for restaurant and retail use. This announcement is based on a press release statement, and forward-looking statements included are subject to various risks and uncertainties.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.