Social Icons Superfish

CEO Spotlight: HCP Has a New Face at the Top

11/14/2013 | By Allen Kenney

Lauralee Martin, president and CEO of HCP, Inc. (NYSE: HCP ), joined REIT.com for a CEO Spotlight video interview at REITWorld 2013: NAREIT’s Annual Convention for All Things REIT at the San Francisco Marriott Marquis.

Martin took over as CEO of HCP earlier this year following the departure of Jay Flaherty from the position. After serving as a member of the company’s board of directors, she cited the “intensity level” as one of the biggest adjustments to her new job.

“At the board, we challenged management about strategy, competitive landscape and so forth, but when you’re in the company, you’ve got to do it,” she said. “It’s really making sure that you’re looking across the landscape, the change in the industry and where people are focused. Obviously it’s all about growth and shareholder value.

Martin was asked about her background with Jones Lang LaSalle and how that experience will direct her vision for HCP.

“At Jones Lang LaSalle, we were a service provider and adviser to lots of operating companies in the Fortune 500, which are many of the clients of HCP,” she said. “They focused on their business, and we gave them advice on how to optimize their real estate. That’s what HCP is all about. We’re the capital that is that real estate. Understanding the operator’s thinking and then bringing that real estate investment perspective to get the best result for the both of us is the way that is the way that we can optimize for HCP shareholders as well.”

Martin also addressed any potential concerns about the underlying health of the company following the change in its top management.

“We just had our earnings, and they proved the point that everything is good,” she said. “Same store sales were good. Our operators continued to perform. We raised our guidance. The health is good. The people are delivering. Operations are stable.”