MILL VALLEY, Calif. - Four Corners Property Trust (NYSE:FCPT), a real estate investment trust specializing in leased restaurant and retail properties, announced the upcoming promotion of Patrick Wernig to Chief Financial Officer. Wernig is expected to take over the role after the company's financial results for the quarter ending March 31, 2024, are released.
The current CFO, Gerry Morgan, will retire on May 3, 2024, but will remain in an advisory capacity to aid the transition.
Wernig, who joined FCPT in 2016 and has led the acquisition team since 2018, is set to succeed Morgan following a period of transition and pending formal appointment by the Board of Directors. His prior experience includes several years at J.P. Morgan's investment banking group, where he focused on the real estate and gaming sectors.
Bill Lenehan, CEO of FCPT, expressed gratitude to Morgan for his significant contributions to the company's growth since its spin-off from Darden (NYSE:DRI) in 2015. Lenehan highlighted Wernig's deep understanding of capital markets and the company's acquisitions process as valuable assets for his upcoming role as CFO.
Morgan reflected positively on his tenure, commending the support from Lenehan and the Board, and expressed confidence in leaving the company in capable hands with Wernig and the executive team. He also acknowledged Niccole Stewart, the company's Chief Accounting Officer, for her expertise and partnership.
John Moody, Chair of FCPT's Board, recognized Morgan's role as a financial steward and expressed optimism for Wernig's future contribution to the company.
FCPT, headquartered in Mill Valley, California, focuses on growing its portfolio through the acquisition and leasing of additional real estate for restaurant and retail use. This announcement is based on a press release statement, and forward-looking statements included are subject to various risks and uncertainties.
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