Allied Properties REIT has announced the pending turnover of key leadership positions through its board renewal and succession plan. That will see the company’s founder, Michael Emory, step down as president and chief executive officer as of May 2, 2023.

Cecilia Williams, who has served as executive vice president and chief financial officer since 2015, will take on the REIT’s top role, while Emory becomes executive chair and continues in a fulltime capacity.

May 2 will also see Tom Burns, executive vice president and chief operating officer, step down to become a trustee and part-time consultant. Nanthini Mahalingam, the current senior vice president, finance and accounting, will be promoted to CFO.

Jennifer Tory will become lead trustee. Gordon Cunningham, trustee and chair, and Gerald Connor, trustee and chair of the audit committee, will both retire at the end of their terms.

The official changeover is to be implemented at the REIT’s annual general meeting.

“The Board established the parameters of this plan in 2019 and has worked steadily toward implementation since that time,” Cunningham says. “We’re highly confident in the evolution and development of the Allied team and in the team’s ability to manage Allied’s business into the future.”