Board of Directors
Board and Committees
The Ventas Board of Directors consists of nine members. The Board has five committees: the Audit and Compliance Committee (responsible for independent audits and management controls), the Nominating and Corporate Governance Committee (responsible for nominating director candidates and corporate governance matters), the Executive Compensation Committee (responsible for establishing financial remuneration and benefits for the Company's executive officers), the Investment Committee (responsible for reviewing the Company's investment/divestiture transactions) and the Executive Committee (responsible for directing selected business affairs of the Company during intervals between general board meetings).
Our experienced, diverse and independent Board of Directors is an essential element of Ventas’s success. Our board members challenge us to outperform, manage risk and create value for our stakeholders. Their collective strength, engagement and judgment have contributed greatly to Ventas’s excellence, stability and strong performance.
Board Composition
Debra A. Cafaro
Director since 1999
Executive and Investment Committees
Debra A. Cafaro
Director since 1999Executive and Investment Committees
Business Experience: Debra Cafaro has been our Chief Executive Officer and a director since 1999 and Chairman of the Board since 2003. She also served as our President from 1999 to November 2010. She is the Chair of the Real Estate Roundtable and serves on the Executive Committee of the Board of the Economic Club of Chicago. She is an owner and member of the Management Committee of the Pittsburgh Penguins, a National Hockey League team. Cafaro is also a member of the Boards of University of Chicago, Chicago Infrastructure Trust, Executives’ Club of Chicago, Chicago Symphony Orchestra and World Business Chicago. To honor her contributions to her industries, she received the Industry Leadership Award from the National Association of Real Estate Investment Trusts (NAREIT), where she previously served as Chair, and was inducted into the ASHA (American Seniors Housing Association) Senior Living Hall of Fame. She currently serves on the Board of Directors of PNC Financial Services Group Inc. (NYSE: PNC) and previously served on the Board of Directors of the Weyerhaeuser Company (NYSE: WY) from 2007-2016. She is a member of the Business Council.
Current Public Company Directorships: PNC Financial Services Group Inc. (NYSE: PNC)
Other Public Company Directorships during Past Five Years: Weyerhaeuser Company (NYSE: WY) (2007-2016)
Skills and Qualifications: Cafaro has substantial executive experience, leadership ability and a proven record of accomplishment, with strong skills in real estate, law, corporate finance, mergers and acquisitions, capital markets, strategic planning and other public company matters.
Melody C. Barnes
Director since 2014
Audit and Nominating Committees
Melody C. Barnes
Director since 2014Audit and Nominating Committees
Business Experience: Melody Barnes is the Co-Founder and Principal of MB Squared Solutions, LLC, a domestic policy strategy firm, and Chair of the Aspen Institute Forum for Community Solutions. She is a senior fellow and Compton Visiting Professor in World Politics in the Miller Center at the University of Virginia; a distinguished fellow in the School of Law; and Co-Director of the University’s Democracy Initiative. From 2012 - 2016, she served as Vice Provost, Global Student Leadership Initiatives and a Senior Fellow at the Robert F. Wagner School of Public Service at New York University. Barnes currently serves as a director of Booz Allen Hamilton Inc. (NYSE: BAH) and was elected to serve as Vice Chair of the Thomas Jefferson Foundation. From January 2009 to January 2012, Barnes served in the White House as Director of the Domestic Policy Council. In this role, she provided policy and strategic advice to President Obama and coordinated the domestic policy-making process for his administration. Before joining the White House, she served as the Senior Domestic Policy Advisor for then-Senator Obama’s 2008 presidential campaign. Barnes was the Executive Vice President for Policy at the Center for American Progress from 2005 to 2008 and a Senior Fellow at the Center for American Progress from 2003 to 2005, and prior to that she was a principal in the Raben Group LLC. She also served as Chief Counsel to Senator Edward M. Kennedy on the Senate Judiciary Committee from 1998 to 2003 and General Counsel for Senator Kennedy from 1995 to 1998.
Current Public Company Directorships: Booz Allen Hamilton Inc. (NYSE: BAH)
Other Public Company Directorships during Past Five Years: None
Skills and Qualifications: Barnes is an attorney with significant government experience and strong skills in public policy, strategy and leadership and development, as well as leading not-for-profit organizations.
Jay M. Gellert
Director since 2001
Executive, Investment and Nominating Committees
Jay M. Gellert
Director since 2001Executive, Investment and Nominating Committees
Business Experience: Jay Gellert was President and Chief Executive Officer of Health Net, Inc. (NYSE: HNT) (“Health Net”), an integrated managed care organization that administers the delivery of managed healthcare services, from 1998 until it was acquired in 2016. He served as President and Chief Operating Officer of Health Net from 1997 to 1998 and as President, Chief Operating Officer and a director of its predecessor, Health Systems International, Inc. (“HSI”), a health maintenance organization, from 1996 to 1997. Before joining HSI, Gellert directed strategic advisory engagements for Shattuck Hammond Partners in the area of integrated delivery systems development, managed care network formation and physician group practice integration. He has also previously served as President and Chief Executive Officer of Bay Pacific Health Corporation, Senior Vice President and Chief Operating Officer for California Healthcare System and as an independent consultant. Gellert also serves as Chairman of the Board of Versant Health, a leading managed vision care company.
Current Public Company Directorships: None
Other Public Company Directorships during Past Five Years: Health Net, Inc. (formerly NYSE: HNT) (1998-2016)
Skills and Qualifications: Gellert has substantial healthcare executive experience, with strong skills in government relations, mergers and acquisitions, strategy, and public company executive compensation.
Jay M. Gellert
Director since 2001
Executive, Investment and Nominating Committees
Business Experience: Jay Gellert was President and Chief Executive Officer of Health Net, Inc. (NYSE: HNT) (“Health Net”), an integrated managed care organization that administers the delivery of managed healthcare services, from 1998 until it was acquired in 2016. He served as President and Chief Operating Officer of Health Net from 1997 to 1998 and as President, Chief Operating Officer and a director of its predecessor, Health Systems International, Inc. (“HSI”), a health maintenance organization, from 1996 to 1997. Before joining HSI, Gellert directed strategic advisory engagements for Shattuck Hammond Partners in the area of integrated delivery systems development, managed care network formation and physician group practice integration. He has also previously served as President and Chief Executive Officer of Bay Pacific Health Corporation, Senior Vice President and Chief Operating Officer for California Healthcare System and as an independent consultant. Gellert also serves as Chairman of the Board of Versant Health, a leading managed vision care company.
Current Public Company Directorships: None
Other Public Company Directorships during Past Five Years: Health Net, Inc. (formerly NYSE: HNT) (1998-2016)
Skills and Qualifications: Gellert has substantial healthcare executive experience, with strong skills in government relations, mergers and acquisitions, strategy, and public company executive compensation.
Melody C. Barnes
Director since 2014
Audit and Nominating Committees
Business Experience: Melody Barnes is the Co-Founder and Principal of MB Squared Solutions, LLC, a domestic policy strategy firm, and Chair of the Aspen Institute Forum for Community Solutions. She is a senior fellow and Compton Visiting Professor in World Politics in the Miller Center at the University of Virginia; a distinguished fellow in the School of Law; and Co-Director of the University’s Democracy Initiative. From 2012 - 2016, she served as Vice Provost, Global Student Leadership Initiatives and a Senior Fellow at the Robert F. Wagner School of Public Service at New York University. Barnes currently serves as a director of Booz Allen Hamilton Inc. (NYSE: BAH) and was elected to serve as Vice Chair of the Thomas Jefferson Foundation. From January 2009 to January 2012, Barnes served in the White House as Director of the Domestic Policy Council. In this role, she provided policy and strategic advice to President Obama and coordinated the domestic policy-making process for his administration. Before joining the White House, she served as the Senior Domestic Policy Advisor for then-Senator Obama’s 2008 presidential campaign. Barnes was the Executive Vice President for Policy at the Center for American Progress from 2005 to 2008 and a Senior Fellow at the Center for American Progress from 2003 to 2005, and prior to that she was a principal in the Raben Group LLC. She also served as Chief Counsel to Senator Edward M. Kennedy on the Senate Judiciary Committee from 1998 to 2003 and General Counsel for Senator Kennedy from 1995 to 1998.
Current Public Company Directorships: Booz Allen Hamilton Inc. (NYSE: BAH)
Other Public Company Directorships during Past Five Years: None
Skills and Qualifications: Barnes is an attorney with significant government experience and strong skills in public policy, strategy and leadership and development, as well as leading not-for-profit organizations.
Debra A. Cafaro
Director since 1999
Executive and Investment Committees
Business Experience: Debra Cafaro has been our Chief Executive Officer and a director since 1999 and Chairman of the Board since 2003. She also served as our President from 1999 to November 2010. She is the Chair of the Real Estate Roundtable and serves on the Executive Committee of the Board of the Economic Club of Chicago. She is an owner and member of the Management Committee of the Pittsburgh Penguins, a National Hockey League team. Cafaro is also a member of the Boards of University of Chicago, Chicago Infrastructure Trust, Executives’ Club of Chicago, Chicago Symphony Orchestra and World Business Chicago. To honor her contributions to her industries, she received the Industry Leadership Award from the National Association of Real Estate Investment Trusts (NAREIT), where she previously served as Chair, and was inducted into the ASHA (American Seniors Housing Association) Senior Living Hall of Fame. She currently serves on the Board of Directors of PNC Financial Services Group Inc. (NYSE: PNC) and previously served on the Board of Directors of the Weyerhaeuser Company (NYSE: WY) from 2007-2016. She is a member of the Business Council.
Current Public Company Directorships: PNC Financial Services Group Inc. (NYSE: PNC)
Other Public Company Directorships during Past Five Years: Weyerhaeuser Company (NYSE: WY) (2007-2016)
Skills and Qualifications: Cafaro has substantial executive experience, leadership ability and a proven record of accomplishment, with strong skills in real estate, law, corporate finance, mergers and acquisitions, capital markets, strategic planning and other public company matters.
Richard I. Gilchrist
Director since 2011
Compensation (Chair) and Investment (Chair) Committees
Richard I. Gilchrist
Director since 2011Compensation (Chair) and Investment (Chair) Committees
Business Experience: Richard Gilchrist served as President of The Irvine Company’s Investment Properties Group (“IPG”) from 2006 to July 2011, and as a member of the Office of the Chairman. Gilchrist has served as chief executive and founder of several major public and private REITs and real estate operating companies with investments throughout the United States. In his role as IPG President, Gilchrist guided all aspects of The Irvine Company’s office, retail, resort and apartment properties in Southern California and Silicon Valley, including development, marketing and management. Gilchrist now serves as Senior Advisor to The Irvine Company, responsible for acquisitions and other investments. The Irvine Company is a 140-year old privately held company known throughout the world as a best-of-class master planner and long-term owner, investor and operator of a large and diversified real estate portfolio. Prior to joining The Irvine Company, Gilchrist served as President and Co-Chief Executive of Maguire Properties, Inc., where he oversaw significant growth in the company’s portfolio, through acquisitions and development, and spearheaded its successful initial public offering in 2003. Before joining Maguire Properties, Gilchrist served as President and Chief Executive Officer of the privately held REIT, Commonwealth Atlantic Properties, where he managed the planning and entitlement of an 11 million square foot mixed-use project. Gilchrist currently serves as Chairman of the Board and Chair of the Nominating and Governance Committee of TIER REIT, Inc. (NYSE:TIER), lead director of the Board of Spirit Realty Capital, Inc. (NYSE: SRC), and director and Chairman of the Affiliate Transaction Committee of Blackstone Real Estate Income Trust, Inc., a non-traded REIT. Gilchrist is a member of the Whittier College Board of Trustees and the UCLA School of Law Board of Advisors. Gilchrist was also a co-founder and managing partner of CommonWealth Partners, LLC, an advisor and venture partner with the California Public Employees’ Retirement System, and a senior partner of Maguire Thomas Partners, a national real estate developer and operator.
Current Public Company Directorships:
Blackstone Real Estate Income Trust, Inc.
Spirit Realty Capital, Inc. (NYSE: SRC)
TIER REIT, Inc. (NYSE: TIER)
Other Public Company Directorships during Past Five Years: BioMed Realty Trust, Inc. (NYSE: BMR) (2007-2014)
Skills and Qualifications: Gilchrist has a strong background in real estate, strategy, law and executive compensation and has served as chief executive and founder of several major public and private REITs and real estate operating companies with investments throughout the United States.
Matthew J. Lustig
Director since 2011
Executive and Investment Committees
Matthew J. Lustig
Director since 2011Executive and Investment Committees
Business Experience: Matthew Lustig is Head of North America Investment Banking and Head of Real Estate and Lodging at Lazard Frères & Co. LLC. He also heads the real estate private equity successor entities of Lazard as a Managing Director of LAI Partners LLC (“LAI”). From May 2011 to December 2012, Lustig served as Chairman of the Board of Atria Senior Living, Inc. In addition, Lustig is or has been a board member of several public and private portfolio investments of funds managed by LAI or its affiliates. Prior to joining Lazard Frères & Co. in 1989, Lustig was a First Vice President at Drexel Burnham Lambert and was previously a lending officer with Chase Manhattan Bank, specializing in credit, construction, and real estate finance. Lustig is a member of various industry organizations and serves on the Boards of Pension Real Estate Association, the Larson Leadership Initiative of the Urban Land Institute, The Wharton School Zell/Lurie Real Estate Center and the Real Estate Advisory Board at Columbia University School of Business. He is also a member of the Board of Directors of Boston Properties, Inc. (NYSE: BXP), an office property REIT, and is on the Board of Visitors of the School of Foreign Service at Georgetown University.
Current Public Company Directorships: Boston Properties, Inc. (NYSE: BXP)
Other Public Company Directorships during Past Five Years: None
Skills and Qualifications: Lustig has extensive experience in investing in real estate companies and assets domestically and internationally, including seniors housing, and advising on real estate and corporate finance, capital structure, mergers and acquisitions and strategic transactions.
Roxanne M. Martino
Director since 2016
Compensation and Investment Committees
Roxanne M. Martino
Director since 2016Compensation and Investment Committees
Business Experience: Roxanne Martino has been a director of Ventas since 2016. Martino is the Managing Partner of OceanM19. From 1990 to 2016, Martino led Aurora Investment Management L.L.C. (“Aurora”) and its predecessor companies, including acting as CEO, Partner, and Chair of the Investment Committee. Over nearly three decades, Martino built the Chicago firm into one of the largest managers in the fund-of-funds industry, managing billion at Aurora’s peak. In 2012 Aurora won Hedge Funds Review’s Best Diversified Fund of Hedge Funds over 10 years. Prior to joining Aurora, Martino was a General Partner of Grosvenor Capital Management. She began her career at Coopers & Lybrand, now PwC, where she was a senior manager focusing on the commodities and securities areas. Martino received a Bachelor of Business Administration from the University of Notre Dame in 1977 and a Master of Business Administration from the University of Chicago in 1988. Martino is the Co-chair of the Business Council at the University of Chicago’s Booth School of Business, Chairperson and member of the Executive Committees of the Children’s Hospital Medical Center / Ann & Robert H. Lurie Children’s Hospital of Chicago, Chairperson of the Governance Committee of Ann & Robert H. Lurie Children’s Hospital of Chicago and its Medical Center, and serves on the Board and Executive Committee of The Economics Club of Chicago. She is also a Director of Thresholds, a Chicago based not-for-profit psychiatric rehabilitation organization. In 2015, Martino was an inaugural inductee into the InvestHedge Hall of Fame and was recognized as one of “50 Leading Women in Hedge Funds,” by the Hedge Fund Journal and was honored by DePaul University as the “DePaul University Financial Executive of the Year” based on her lifetime of professional achievement.
Current Public Company Directorships: None
Other Public Company Directorships during Past Five Years: None
Skills and Qualifications: Martino is a trailblazer in the fund-of-funds industry with extensive executive experience and strong skills in strategy, accounting and corporate finance.
Roxanne M. Martino
Director since 2016
Compensation and Investment Committees
Business Experience: Roxanne Martino has been a director of Ventas since 2016. Martino is the Managing Partner of OceanM19. From 1990 to 2016, Martino led Aurora Investment Management L.L.C. (“Aurora”) and its predecessor companies, including acting as CEO, Partner, and Chair of the Investment Committee. Over nearly three decades, Martino built the Chicago firm into one of the largest managers in the fund-of-funds industry, managing billion at Aurora’s peak. In 2012 Aurora won Hedge Funds Review’s Best Diversified Fund of Hedge Funds over 10 years. Prior to joining Aurora, Martino was a General Partner of Grosvenor Capital Management. She began her career at Coopers & Lybrand, now PwC, where she was a senior manager focusing on the commodities and securities areas. Martino received a Bachelor of Business Administration from the University of Notre Dame in 1977 and a Master of Business Administration from the University of Chicago in 1988. Martino is the Co-chair of the Business Council at the University of Chicago’s Booth School of Business, Chairperson and member of the Executive Committees of the Children’s Hospital Medical Center / Ann & Robert H. Lurie Children’s Hospital of Chicago, Chairperson of the Governance Committee of Ann & Robert H. Lurie Children’s Hospital of Chicago and its Medical Center, and serves on the Board and Executive Committee of The Economics Club of Chicago. She is also a Director of Thresholds, a Chicago based not-for-profit psychiatric rehabilitation organization. In 2015, Martino was an inaugural inductee into the InvestHedge Hall of Fame and was recognized as one of “50 Leading Women in Hedge Funds,” by the Hedge Fund Journal and was honored by DePaul University as the “DePaul University Financial Executive of the Year” based on her lifetime of professional achievement.
Current Public Company Directorships: None
Other Public Company Directorships during Past Five Years: None
Skills and Qualifications: Martino is a trailblazer in the fund-of-funds industry with extensive executive experience and strong skills in strategy, accounting and corporate finance.
Matthew J. Lustig
Director since 2011
Executive and Investment Committees
Business Experience: Matthew Lustig is Head of North America Investment Banking and Head of Real Estate and Lodging at Lazard Frères & Co. LLC. He also heads the real estate private equity successor entities of Lazard as a Managing Director of LAI Partners LLC (“LAI”). From May 2011 to December 2012, Lustig served as Chairman of the Board of Atria Senior Living, Inc. In addition, Lustig is or has been a board member of several public and private portfolio investments of funds managed by LAI or its affiliates. Prior to joining Lazard Frères & Co. in 1989, Lustig was a First Vice President at Drexel Burnham Lambert and was previously a lending officer with Chase Manhattan Bank, specializing in credit, construction, and real estate finance. Lustig is a member of various industry organizations and serves on the Boards of Pension Real Estate Association, the Larson Leadership Initiative of the Urban Land Institute, The Wharton School Zell/Lurie Real Estate Center and the Real Estate Advisory Board at Columbia University School of Business. He is also a member of the Board of Directors of Boston Properties, Inc. (NYSE: BXP), an office property REIT, and is on the Board of Visitors of the School of Foreign Service at Georgetown University.
Current Public Company Directorships: Boston Properties, Inc. (NYSE: BXP)
Other Public Company Directorships during Past Five Years: None
Skills and Qualifications: Lustig has extensive experience in investing in real estate companies and assets domestically and internationally, including seniors housing, and advising on real estate and corporate finance, capital structure, mergers and acquisitions and strategic transactions.
Richard I. Gilchrist
Director since 2011
Compensation (Chair) and Investment (Chair) Committees
Business Experience: Richard Gilchrist served as President of The Irvine Company’s Investment Properties Group (“IPG”) from 2006 to July 2011, and as a member of the Office of the Chairman. Gilchrist has served as chief executive and founder of several major public and private REITs and real estate operating companies with investments throughout the United States. In his role as IPG President, Gilchrist guided all aspects of The Irvine Company’s office, retail, resort and apartment properties in Southern California and Silicon Valley, including development, marketing and management. Gilchrist now serves as Senior Advisor to The Irvine Company, responsible for acquisitions and other investments. The Irvine Company is a 140-year old privately held company known throughout the world as a best-of-class master planner and long-term owner, investor and operator of a large and diversified real estate portfolio. Prior to joining The Irvine Company, Gilchrist served as President and Co-Chief Executive of Maguire Properties, Inc., where he oversaw significant growth in the company’s portfolio, through acquisitions and development, and spearheaded its successful initial public offering in 2003. Before joining Maguire Properties, Gilchrist served as President and Chief Executive Officer of the privately held REIT, Commonwealth Atlantic Properties, where he managed the planning and entitlement of an 11 million square foot mixed-use project. Gilchrist currently serves as Chairman of the Board and Chair of the Nominating and Governance Committee of TIER REIT, Inc. (NYSE:TIER), lead director of the Board of Spirit Realty Capital, Inc. (NYSE: SRC), and director and Chairman of the Affiliate Transaction Committee of Blackstone Real Estate Income Trust, Inc., a non-traded REIT. Gilchrist is a member of the Whittier College Board of Trustees and the UCLA School of Law Board of Advisors. Gilchrist was also a co-founder and managing partner of CommonWealth Partners, LLC, an advisor and venture partner with the California Public Employees’ Retirement System, and a senior partner of Maguire Thomas Partners, a national real estate developer and operator.
Current Public Company Directorships:
Blackstone Real Estate Income Trust, Inc.
Spirit Realty Capital, Inc. (NYSE: SRC)
TIER REIT, Inc. (NYSE: TIER)
Other Public Company Directorships during Past Five Years: BioMed Realty Trust, Inc. (NYSE: BMR) (2007-2014)
Skills and Qualifications: Gilchrist has a strong background in real estate, strategy, law and executive compensation and has served as chief executive and founder of several major public and private REITs and real estate operating companies with investments throughout the United States.
Sean P. Nolan
Director Since 2019
Audit Committee
Sean P. Nolan
Director Since 2019Audit Committee
Business Experience: Sean Nolan served as Chief Executive Officer and President at AveXis, Inc. (formerly NASDAQ: AVXS), a clinical-stage gene therapy company, from 2015 to 2018, successfully growing the company from four employees to a publicly listed company which was acquired by Novartis for $8.7 billion in 2018. Nolan is Chairman of a gene therapy company, Encoded Therapeutics, Inc., and Executive Chairman of Istari Oncology, Inc. He is also a member of the Board of Directors of Aquinox Pharmaceuticals Inc. (Nasdaq: AQXP), a clinical-stage pharmaceutical company, where he is serves on the Audit Committee and is Chairman of the Nominating and Governance Committee. Prior to joining AveXis, Nolan held senior leadership positions at InterMune Inc. (acquired by Roche in 2015), Reata Pharmaceuticals, Inc., Lundbeck, Inc. and Abbott Laboratories.
Current Public Company Directorships: Aquinox Pharmaceuticals Inc. (Nasdaq: AQXP)
Other Public Company Directorships during Past Five Years: None
Skills and Qualifications: Nolan is an accomplished senior executive with more than 28 years of biopharmaceutical experience.
Walter C. Rakowich
Director since 2016
Audit Committee
Walter C. Rakowich
Director since 2016Audit Committee
Business Experience: Walter Rakowich served as Chief Executive Officer of Prologis, Inc. (NYSE: PLD) from November 2008 through June 2011, when Prologis and AMB Property Corporation merged. Following the merger, he served as co-CEO of Prologis until December 31, 2012, when he retired. Before becoming CEO, Rakowich held a number of senior management positions at Prologis, including managing director and chief financial officer and president and chief operating officer. He served on the Prologis Board from January 2005 through December 2012. Prior to joining Prologis, Rakowich was a partner and principal with real estate provider Trammell Crow Company. He began his career at Price Waterhouse. He received his MBA from Harvard Business School and a BS, with distinction, from Pennsylvania State University. Rakowich is a member of the Board of Directors of Host Hotels & Resorts, Inc. (NYSE: HST), where he is the company’s Lead Independent Director and Chairman of the Nominating and Governance Committee, and Iron Mountain Inc. (NYSE: IRM), w here he is Chairman of the Audit Committee. He also serves on the Board of the Global Food Exchange. He was appointed to the Board of Trustees at The Pennsylvania State University in 2014 and serves as Chairman of the University Board’s Audit and Risk Committee. He is also Chairman of the Board of Colorado UpLift and a Board member of the Alliance for School Choice in Education.
Current Public Company Directorships:
Host Hotels & Resorts, Inc. (NYSE: HST)
Iron Mountain Incorporated (NYSE: IRM)
Other Public Company Directorships during Past Five Years: None
Skills and Qualifications: Rakowich is a recognized leader in the real estate industry with extensive executive experience and strong skills in strategy, accounting and financial reporting, international operations, mergers and acquisitions, capital markets and corporate finance.
Robert D. Reed
Director since 2008
Audit (Chair) and Executive Committees
Robert D. Reed
Director since 2008Audit (Chair) and Executive Committees
Business Experience: Robert Reed was Senior Vice President and Chief Financial Officer of Sutter Health, a family of not-for-profit hospitals and physicians organizations in northern California, until his retirement on January 1, 2015. Prior to that, he held various finance position s within Sutter Health and its affiliates. Before he became a hospital system executive, Reed was an investment banker specializing in healthcare finance for hospital systems at various national financial firms, including Eastdil, Paine Webber and American Health Capital.
Current Public Company Directorships: None
Other Public Company Directorships during Past Five Years: None
Skills and Qualifications: Reed has a strong background in healthcare finance and operations, accounting and financial reporting, managing capital intensive operations and strategic planning, as well as leading not-for-profit organizations.
Robert D. Reed
Director since 2008
Audit (Chair) and Executive Committees
Business Experience: Robert Reed was Senior Vice President and Chief Financial Officer of Sutter Health, a family of not-for-profit hospitals and physicians organizations in northern California, until his retirement on January 1, 2015. Prior to that, he held various finance position s within Sutter Health and its affiliates. Before he became a hospital system executive, Reed was an investment banker specializing in healthcare finance for hospital systems at various national financial firms, including Eastdil, Paine Webber and American Health Capital.
Current Public Company Directorships: None
Other Public Company Directorships during Past Five Years: None
Skills and Qualifications: Reed has a strong background in healthcare finance and operations, accounting and financial reporting, managing capital intensive operations and strategic planning, as well as leading not-for-profit organizations.
Walter C. Rakowich
Director since 2016
Audit Committee
Business Experience: Walter Rakowich served as Chief Executive Officer of Prologis, Inc. (NYSE: PLD) from November 2008 through June 2011, when Prologis and AMB Property Corporation merged. Following the merger, he served as co-CEO of Prologis until December 31, 2012, when he retired. Before becoming CEO, Rakowich held a number of senior management positions at Prologis, including managing director and chief financial officer and president and chief operating officer. He served on the Prologis Board from January 2005 through December 2012. Prior to joining Prologis, Rakowich was a partner and principal with real estate provider Trammell Crow Company. He began his career at Price Waterhouse. He received his MBA from Harvard Business School and a BS, with distinction, from Pennsylvania State University. Rakowich is a member of the Board of Directors of Host Hotels & Resorts, Inc. (NYSE: HST), where he is the company’s Lead Independent Director and Chairman of the Nominating and Governance Committee, and Iron Mountain Inc. (NYSE: IRM), w here he is Chairman of the Audit Committee. He also serves on the Board of the Global Food Exchange. He was appointed to the Board of Trustees at The Pennsylvania State University in 2014 and serves as Chairman of the University Board’s Audit and Risk Committee. He is also Chairman of the Board of Colorado UpLift and a Board member of the Alliance for School Choice in Education.
Current Public Company Directorships:
Host Hotels & Resorts, Inc. (NYSE: HST)
Iron Mountain Incorporated (NYSE: IRM)
Other Public Company Directorships during Past Five Years: None
Skills and Qualifications: Rakowich is a recognized leader in the real estate industry with extensive executive experience and strong skills in strategy, accounting and financial reporting, international operations, mergers and acquisitions, capital markets and corporate finance.
Sean P. Nolan
Director Since 2019
Audit Committee
Business Experience: Sean Nolan served as Chief Executive Officer and President at AveXis, Inc. (formerly NASDAQ: AVXS), a clinical-stage gene therapy company, from 2015 to 2018, successfully growing the company from four employees to a publicly listed company which was acquired by Novartis for $8.7 billion in 2018. Nolan is Chairman of a gene therapy company, Encoded Therapeutics, Inc., and Executive Chairman of Istari Oncology, Inc. He is also a member of the Board of Directors of Aquinox Pharmaceuticals Inc. (Nasdaq: AQXP), a clinical-stage pharmaceutical company, where he is serves on the Audit Committee and is Chairman of the Nominating and Governance Committee. Prior to joining AveXis, Nolan held senior leadership positions at InterMune Inc. (acquired by Roche in 2015), Reata Pharmaceuticals, Inc., Lundbeck, Inc. and Abbott Laboratories.
Current Public Company Directorships: Aquinox Pharmaceuticals Inc. (Nasdaq: AQXP)
Other Public Company Directorships during Past Five Years: None
Skills and Qualifications: Nolan is an accomplished senior executive with more than 28 years of biopharmaceutical experience.
James D. Shelton
Director since 2008
Presiding Director since 2016
Compensation, Executive (Chair) and Nominating (Chair) Committees
James D. Shelton
Director since 2008Presiding Director since 2016
Compensation, Executive (Chair) and Nominating (Chair) Committees
Business Experience: James Shelton was non-executive Chairman of the Board of Omnicare, Inc. (formerly NYSE: OCR) (“Omnicare”), a pharmaceutical care provider, until it was acquired in 2015. Shelton also served as Lead Independent Director for Envision Healthcare Holdings, Inc. (NYSE: EVHC), a company that offers physician-led healthcare-related services and was acquired in 2018. From August 2010 to January 2011, Shelton served as interim Chief Executive Officer of Omnicare. Previously, he served as Chief Executive Officer and Chairman of the Board of Triad Hospitals, Inc. (formerly NYSE: TRI) (“Triad”), an owner and manager of hospitals and ambulatory surgery centers, from 1999 until it was sold in July 2007. Before leading the formation and spin-off of Triad from Columbia/HCA Healthcare Corporation (now known as HCA Inc.) (“HCA”), Shelton was President of the Pacific Group of HCA from 1998 to 1999 and President of the Central Group of HCA from 1994 to 1998. During his more than 30 years of healthcare experience, he has also held various executive positions with National Medical Enterprises (now known as Tenet Healthcare Corporation). Shelton previously served on the Boards of Optimal IMX, Inc., the Federation of American Hospitals and the American Hospital Association.
Current Public Company Directorships: None
Other Public Company Directorships during Past Five Years: Envision Healthcare Holdings, Inc. (NYSE: EVHC) (July 2015 – October 2018) Omnicare, Inc. (formerly NYSE: OCR) (June 2007 – August 2015)
Skills and Qualifications: Shelton has extensive executive experience in the healthcare industry, with strong skills in hospital administration and finance, managing capital intensive operations, mergers and acquisitions, strategy, executive compensation, government relations and corporate governance on real estate and corporate finance, capital structure, mergers and acquisitions and strategic transactions.
James D. Shelton
Director since 2008
Presiding Director since 2016
Compensation, Executive (Chair) and Nominating (Chair) Committees
Business Experience: James Shelton was non-executive Chairman of the Board of Omnicare, Inc. (formerly NYSE: OCR) (“Omnicare”), a pharmaceutical care provider, until it was acquired in 2015. Shelton also served as Lead Independent Director for Envision Healthcare Holdings, Inc. (NYSE: EVHC), a company that offers physician-led healthcare-related services and was acquired in 2018. From August 2010 to January 2011, Shelton served as interim Chief Executive Officer of Omnicare. Previously, he served as Chief Executive Officer and Chairman of the Board of Triad Hospitals, Inc. (formerly NYSE: TRI) (“Triad”), an owner and manager of hospitals and ambulatory surgery centers, from 1999 until it was sold in July 2007. Before leading the formation and spin-off of Triad from Columbia/HCA Healthcare Corporation (now known as HCA Inc.) (“HCA”), Shelton was President of the Pacific Group of HCA from 1998 to 1999 and President of the Central Group of HCA from 1994 to 1998. During his more than 30 years of healthcare experience, he has also held various executive positions with National Medical Enterprises (now known as Tenet Healthcare Corporation). Shelton previously served on the Boards of Optimal IMX, Inc., the Federation of American Hospitals and the American Hospital Association.
Current Public Company Directorships: None
Other Public Company Directorships during Past Five Years: Envision Healthcare Holdings, Inc. (NYSE: EVHC) (July 2015 – October 2018) Omnicare, Inc. (formerly NYSE: OCR) (June 2007 – August 2015)
Skills and Qualifications: Shelton has extensive executive experience in the healthcare industry, with strong skills in hospital administration and finance, managing capital intensive operations, mergers and acquisitions, strategy, executive compensation, government relations and corporate governance on real estate and corporate finance, capital structure, mergers and acquisitions and strategic transactions.
Longtime Leadership in Board Diversity
Ventas has long placed a priority on gender diversity at the Board level, and has maintained at least two female Board members since 2001, including Chairman and CEO Debra A. Cafaro. We have earned distinct honors as a “Winning” company on the 2020 Women on Boards Gender Diversity Index and as a Corporate Champion by the Women’s Forum of New York. Diversity within the board is critical in bringing together varied perspectives and complementary experiences, and has been shown to have a demonstrable impact on business performance.1
Board Membership Overview
- Hunt, V., Yee, L., Prince, S., Dixon-Fyle, S. McKinsey & Company. “Delivering through Diversity.” January 2018. www.mckinsey.com/business-functions/organization/our-insights/delivering-through-diversity.