Ventas appointed two individuals to the company’s board of directors as a result of a new cooperation agreement with activist investor Land & Buildings. Ventas and Land & Buildings have expressed their differences throughout the last several years, however, the agreement seems to signal a ceasefire of their issues. Theodore Bigman is slated to sit on the board’s investment committee, and Joe V. Rodriguez, Jr will be on the board’s nominating, governance and corporate responsibility committee. Ventas also announced that the lead independent director for Ventas’ board of directors, Denny Shelton, is retiring.
Following the appointments of Bigman and Rodriguez, the Ventas board has been temporarily expanded to 13 members, of which 12 are independent. Bigman has worked as a private investor and is the founder and CEO of Bigman Holdings, a company he has led since 2021. Prior to that, he held different roles at MSIM, an asset management company he joined in 1995. Rodriguez is a real estate investor with 30 years of experience, and he was a founding partner and CIO at Invesco Real Estate. Additionally, he served as a board advisor to Invesco Office J-REIT and AIM Select Real Estate Income Fund.
