Business Context and Reporting Period
This Form 8-K is a current report filed by Ares Commercial Real Estate Corporation (ACRE) on July 22, 2019. The filing primarily addresses significant changes in corporate leadership and executive appointments effective as of the report date.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel changes and does not contain financial performance data.
Material Changes
- Appointment of President: The Board of Directors appointed David Roth as President of the Company, effective July 22, 2019.
- Departure of President: James A. Henderson stepped down from his position as President effective July 22, 2019.
- Continued Leadership: James A. Henderson remains in his roles as Chief Executive Officer and Chief Investment Officer.
Management Commentary and Background
David Roth, 52, joined Ares Management Corporation in January 2019 as a Partner in the Ares Real Estate Group and Head of U.S. Real Estate Private Equity. He is a member of the Ares Global Real Estate Investment Committee and the Management Committee of Ares Management Corporation. Prior to Ares, Mr. Roth served as a Senior Managing Director at Blackstone's Real Estate Group. A press release detailing this appointment was issued on July 26, 2019.
Investor Verification Checklist
- Confirm the effective date of David Roth's appointment as President (July 22, 2019).
- Verify that James A. Henderson retains the titles of CEO and CIO.
- Review the attached press release (Exhibit 99.1) for additional details on the leadership transition.
- Note that this filing contains no financial data; refer to the most recent 10-Q or 10-K for financial metrics.