Cominar REIT has announced that Michel Berthelot, Executive Vice President and Chief Financial Officer wishes to retire in May 2013 after the annual meeting of unitholders, after 14 years of service at Cominar.
“My decision to retire is based solely on my desire to pursue a lifestyle change with my wife at this stage of our lives,” said Berthelot. “I wish to thank Cominar’s management team, Board of Trustees, employees and unitholders, and the investment community for more than a decade as Chief Financial Officer of Cominar. I look forward to Cominar’s continued success.”
Cominar also announced that Dino Fuoco, FCPA, FCMA, will join the executive management team in November 2012 to become executive Vice President and Chief Financial Officer in May 2013 when Berthelot retires. Fuoco has been a member of the Board of Trustees of Cominar since 2006 and chairs its Audit Committee. Alban D’Amours will replace Fuoco as Chair of the Audit Committee.
“Michel joined Cominar in 1999, shortly after our IPO, and has been an integral part of the team that has built Cominar into one of the largest diversified REITs in Canada. I thank Michel for his contributions and continuing friendship, I look forward to working on the transition from Michel to Dino and wish Michel and his wife all the best in retirement in May 2013,” said Michel Dallaire, president and CEO of Cominar. “Dino is an experienced leader, who has held financial management positions in other large publicly traded companies and is the right person to take over from Michel after his retirement.”
Cominar is the third largest diversified real estate investment trust in Canada and currently remains the largest commercial property owner in the Province of Québec. Cominar owns a real estate portfolio of 415 high-quality properties, consisting of 82 office, 158 retail and 175 industrial and mixed-use buildings that cover a total area of 30.7 million square feet in Québec, Ontario, the Atlantic Provinces and Western Canada.