InvenTrust's CFO steps down
InvenTrust Properties Corp. said that Michael Podboy is resigning from his positions as executive vice president, chief financial officer, chief investment officer and treasurer to pursue other opportunities outside the company.
Effective immediately, Adam M. Jaworski, InvenTrust's senior nice president, chief accounting officer, will assume the role of the company's interim principal financial officer.
"Michael has made numerous contributions to InvenTrust over the course of his career and has been instrumental in furthering our strategy and shaping our asset base and balance sheet," said Thomas McGuinness, president and CEO of InvenTrust. "On behalf of the board and management team, I thank Michael for his leadership over the past 11 years and wish him well in his future endeavors."
InvenTrust Properties Corp., which relocated its headquarters from Oak Brook to Downers Grove, last year, is a pure-play retail company with a focus on acquiring grocery-anchored open-air centers in key growth markets with favorable demographics.
Podboy said, "I am proud of what InvenTrust has accomplished and the progress we have made as a company during my tenure. I wish InvenTrust future success and believe that the Company is positioned to achieve its strategic and financial goals."
InvenTrust has initiated a search for a new CFO and will retain an executive search firm to assist with that process. The Company also noted that Podboy's departure is not based on any disagreement with the company or the board regarding any matter related to the company's accounting principles or practices, or financial statement disclosures.