HCP Announces CFO Transition

By Adriana Pop, Associate Editor

Irvine, Calif.–HCP Inc. has announced that Timothy Schoen, the company’s executive vice president & chief financial officer is leaving HCP to become president of BioMed Realty, a real estate company serving the life science industry that was recently acquired by real estate funds managed by The Blackstone Group for approximately $8 billion.

Timothy Schoen

Schoen will remain in his current role at HCP through May 22 to oversee reporting of first quarter earnings and to ensure a smooth transition of his duties.

HCP is currently seeking a successor for Schoen and has retained executive search firm Spencer Stuart to lead the recruiting process.

Schoen joined HCP in 2006 and has served as executive vice president & chief financial officer since 2011. From 2009 to 2011, he was executive vice president of Life Science and Investment Management, during which time he led HCP’s premier life science platform.

“It is difficult to leave a great company for which I feel privileged to have worked for the past 10 years,” Schoen said in a prepared statement. “I am very proud of our accomplishments, and I have greatly appreciated the opportunity to work closely with our executive management and many dedicated colleagues at HCP, including our outstanding finance, accounting and tax team. I am confident that HCP will attract a well-qualified successor and will continue to achieve great success in the future.”

“On behalf of the entire Company and Board of Directors, we thank Tim for his significant contributions to HCP,” stated Lauralee Martin, HCP president & CEO. “Personally, I thank Tim for being a true partner and a valued and effective member of our leadership team. His contributions have strengthened our organization and positioned us well for the future. We wish Tim only success in his new role and are proud of the market recognition of the superb professional talent at HCP.”

“We have a detailed transition plan in place and are grateful that Tim will remain in his position for the next two months to help us with the process. Until we find the right successor, our strong and talented finance team is capable of handling all of the needs of the organization,” Martin added.

Image courtesy of HCP Inc.