W. P. Carey (WPC) CFO Kader Resigns

September 22, 2016 4:31 PM EDT

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W. P. Carey Inc. (NYSE: WPC) announced that its Chief Financial Officer, Hisham Kader, is resigning from the position effective October 14, 2016. Mr. Kader will be relocating to Boston to assume the role as CFO of a private real estate company. The Company has engaged Korn Ferry in its search for a successor CFO.

Ms. ToniAnn Sanzone has been appointed interim CFO of W. P. Carey Inc., having served as its Chief Accounting Officer since 2015. Ms. Sanzone joined W. P. Carey in April 2013 as Global Corporate Controller. Prior to joining W. P. Carey, Ms. Sanzone served as the Corporate Controller at iStar Financial Inc., where she held various senior accounting positions from 2006 to 2013.

Mark J. DeCesaris, W. P. Carey's Chief Executive Officer, said, "On behalf of the Company, I want to thank Hisham for his many contributions to W. P. Carey during his five years with us. Hisham is well-liked and respected by everyone throughout the firm and will be missed. I wish him all the best in his new position and look forward to working closely with Toni."

"While this was a difficult decision for me to make, pursuing this new opportunity is the right choice for me and for my family," Mr. Kader said. "I am truly proud of the work we have accomplished during my tenure and I know that I leave W. P. Carey well-positioned for continued success."

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