NNN REIT, Inc. (NNN) has announced the impending retirement of Chief Financial Officer Kevin Habicht, who will also relinquish his position on the Board of Directors, effective March 31, 2025.
Habicht’s tenure with NNN has been extensive; he has served as Executive Vice President and Chief Financial Officer since December 1993, as Treasurer since January 1998, and has been on the board since June 2000. Additionally, he held the role of Secretary from January 1998 to May 2003.
In anticipation of Habicht's departure, Vincent Chao is slated to join the company as Executive Vice President on January 9, 2025. Chao will assume the roles of Chief Financial Officer, Assistant Secretary, and Treasurer, becoming the principal financial officer on April 1, 2025.
Chao's previous experience includes his recent position as the Managing Director of Finance at RPT Realty, a publicly traded retail real estate trust that was acquired by Kimco Realty in 2024. During his time at RPT, Chao was responsible for overseeing capital markets, corporate finance, investor relations, portfolio management, and data analytics.
On Monday, NNN shares closed at $39.57, marking a 2.01% decrease. However, during aftermarket trading, the stock rebounded to close at $40.35, a rise of 1.97%.
