Business & Finance
Business and FinanceBusiness and Finance 
Tue, November 1, 2011
Mon, October 31, 2011
Health Care REIT, Inc. Announces Plans to Declassify Board of Directors
TOLEDO, Ohio--([ BUSINESS WIRE ])--Health Care REIT, Inc. (NYSE:HCN) announced today its Board of Directors approved an amendment to its bylaws to declassify the Board of Directors.
"The decision to declassify Health Care REITas Board of Directors demonstrates our commitment to our shareholders and best practices in corporate governance"
aThe decision to declassify Health Care REITas Board of Directors demonstrates our commitment to our shareholders and best practices in corporate governance,a said George L. Chapman, Chairman, Chief Executive Officer and President of Health Care REIT, Inc.
Under the current system, directors are divided into three classes, with each class serving three-year terms and only one class elected each year. The amendment will provide for the annual election of all directors beginning with the May 2012 elections.
Health Care REIT, Inc., an S&P 500 company with headquarters in Toledo, Ohio, is a real estate investment trust that invests across the full spectrum of senior housing and health care real estate. The company also provides an extensive array of property management and development services. As of June 30, 2011, the companyas broadly diversified portfolio consisted of 868 properties in 45 states. More information is available on the companyas website at [ www.hcreit.com ].