Altus Group Income Fund Announces Key Executive Transition
TORONTO, ONTARIO–(Marketwire – April 20, 2010) – Altus Group Income Fund (“Fund”) (TSX:AIF.UN) today announced plans for the transition of the role of Chief Financial Officer to be completed by May 19, 2010.
Ms. Dale Lawr will transition out of her current role as CFO into the newly created position of EVP Finance, responsible for strategic initiatives and reporting to the CEO. Dale first joined Altus Group’s predecessor firms in 2005 during consolidation, and was integral to the IPO offering in May 2005. Since that time, she has led the Finance team through a period of rapid growth, helping to appropriately position Altus into a broadly held global real estate advisory firm.
Mr. Angelo Bartolini, who has held the role of Chief Accounting Officer since joining Altus in early 2008, will be promoted into the position of CFO, and will oversee all financial operations and treasury functions. A Chartered Accountant with an Honours in Business Administration from the University of Western Ontario, Angelo brings over 20 years of financial and accounting experience to Altus, including previous roles with both Home Depot and Canadian Tire.
In addition to ensuring a smooth transition, Dale will focus her advisory efforts on a number of strategically important projects, including Altus’ upcoming conversion process.
“As our Chief Financial Officer, Dale has brought rigour, professionalism and focus to the task of successfully navigating Altus Group through a period of exceptional and dynamic change,” said Gary Yeoman, Chief Executive Officer of Altus Group. “With Angelo assuming the role of CFO and Dale concentrating her energies on strategic initiatives, our Finance team will be stronger and even better able to lead us through our next phase of expansion as we pursue new and exciting opportunities.”
About Altus Group Income Fund
Altus Group is the leading multidisciplinary provider of independent real estate consulting and professional advisory services worldwide. With a staff of over 1,500, Altus Group has a network of over 50 offices in 11 countries worldwide, including Canada, UK, Australia, Asia and the United States. We operate four interrelated Business Units, bringing years of expertise together into one comprehensive platform: Research, Valuation and Advisory; Cost Consulting and Project Management; Realty Tax Consulting and Geomatics services. AltusÊ¹ clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords and companies engaged in the oil and gas industry.
For more information on Altus Group, please visit: www.altusgroup.com.
Certain statements in this press release may constitute “forward-looking” statements, which involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Fund and its subsidiary entities to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, such statements use words such as “may”, “will”, “expect”, “believe”, “plan” and other similar terminology. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those described in the Fund’s publicly filed documents. Those risks and uncertainties include: general state of the economy; ability to maintain profitability and manage growth; dependence on oil and gas sector; competition in the industry; revenue and cash flow volatility; credit risk; reliance on and retention of professionals; currency risk; dependence on Canadian multi-residential market; integration of acquisitions; protection of intellectual property; weather; fixed-price and contingency engagements; performance of obligations / maintenance of client satisfaction; interest rate risk; appraisal mandates; customer concentration; restrictions on potential growth; operating risks; risk of future legal proceedings; insurance limits; and legislative and regulatory changes. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Fund cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this press release and, except in accordance with applicable law, the Fund assumes no obligations to update or revise them to reflect new events or circumstances. Additionally, the Fund undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Fund, its financial or operating results, or its securities.
Camilla BartosiewiczBartosiewicztoronto-hqVice President, Investor Relations