NewRiver founder Mark Davies has been appointed chief executive of Primary Health Properties.
Davies will take over the role from PHP founder Harry Hyman following the REIT’s AGM in April next year.
PHP chair Steven Owen said: “Mark’s track record, experience and knowledge of property and capital markets, as well as of operational businesses, will be of considerable benefit to the company in the execution of its strategy over the medium term.”
Davies co-founded NewRiver REIT in 2009 and was CFO for 12 years, helping to take the company from IPO to the FTSE 250.
He was also chief executive and executive chairman at Hawthorn Leisure for five years.
Davies stood down from NewRiver following the sale of Hawthorn and its 674 pubs in July 2021 to Admiral Taverns for £222m.
Prior to NewRiver he spent three years as an executive director and CFO at private equity fund Omega Land, with more than £2bn of London real estate owned by Morgan Stanley Real Estate Funds.
Davies is also senior independent director at Palace Capital.
Davies said: “PHP has a strong track record and is a market leader in healthcare property. I am delighted at the opportunity to lead the business and it’s an honour to succeed Harry as CEO.”
He will work alongside Hyman for three months up to the 2024 AGM as part of the handover process.
Hyman said: “I look forward to working with Mark and the rest of the team to ensure a seamless transition in 2024 and beyond, and to continuing to deliver our strategy of progressive dividend growth.”
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