STELLARTON, NS, June 21 /CNW/ – Donald E. Clow FCA, President and Chief Executive Officer of Crombie REIT is pleased to announce the appointment of Glenn Hynes CA, to the position of Chief Financial Officer and Secretary of Crombie REIT commencing June 28, 2010. In this position, Glenn will be responsible for all aspects of financial management of Crombie REIT, including financial reporting, risk management and compliance with accounting policies, regulatory disclosure requirements & internal controls. Glenn will also play an active role in the day to day operations of the business and properties of Crombie REIT as well as the establishment and implementation of Crombie's capital plan to ensure that its long term objectives are met.
Glenn brings a wealth of relevant financial and business experience to Crombie REIT, having previously held the position of Chief Financial Officer at the time of Crombie's establishment and initial public offering in 2006. Mr. Hynes also held the position of Executive Vice President and Chief Financial Officer of Sobeys Inc. from 2001 to 2004 and Executive Vice President & Chief Development Officer (2005-2006) and subsequently was appointed Executive Vice President and Chief Financial Officer of Gammon Gold Inc. Most recently, Mr. Hynes served as Chief Financial Officer and a Partner of Bluewave Energy Ltd, a national fuel distributor.
"We are very fortunate to have Glenn return to Crombie as our CFO. Having worked for Sobeys Inc. and Crombie REIT for 10 years, Glenn has a wealth of knowledge and experience related to the development, operation and financing of food anchored retail plazas which will benefit Crombie greatly" said Mr. Clow.
Glenn graduated from the University of Prince Edward Island with a Bachelor of Business Administration (1983) and earned his CA designation with Coopers & Lybrand (1985). Glenn was a 2000 recipient of Canada's Top 40 Under 40.
About Crombie Real Estate Investment Trust
Crombie Real Estate Investment Trust is an unincorporated open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. The trust invests in income-producing retail, office and mixed-use properties in Canada, with a future growth strategy focused primarily on the acquisition of retail properties. Crombie REIT currently owns a portfolio of 118 commercial properties in seven provinces, comprising approximately 11.5 million square feet of gross leaseable area. Additional information relating to Crombie REIT can be found on Crombie's website (www.crombiereit.com)
Contact: Donald E. Clow, FCA, President & CEO, Crombie REIT, (902) 755-8100