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RioCan Real Estate Investment Trust Announces Upcoming Departure of Its Chief Financial Officer



TORONTO, March 02, 2021 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust (“RioCan or the “Trust”) (TSX: REI.UN) today announced that Qi Tang, Senior Vice President and Chief Financial Officer, has decided to pursue other leadership opportunities. Ms. Tang will resign from her current role effective May 12, 2021 as she works with the RioCan management team to ensure a smooth and seamless transition. RioCan has commenced an executive search for her successor.

“Over her nearly five years with RioCan, Qi has made significant contributions through her leadership in financial and capital management, strategy development, reporting and compliance, among others. RioCan has benefited tremendously from Qi’s dedication and she leaves big shoes to fill,” said Edward Sonshine, Chief Executive Officer of RioCan. “As our CFO, she raised the bar on many fronts including taking our financial disclosures to a whole new level and establishing the first green financing program for a Canadian REIT. I have a deep appreciation and high regard for her expertise and professionalism; on behalf of our Board and team, I wish her only the very best as she embarks on the next chapter of her career.”

“This is the right time both personally and professionally to take on new challenges,” said Ms. Tang. “It has been a great pleasure working alongside Ed, Jonathan and the rest of the RioCan team. I stand by the strength of the RioCan portfolio and its future prospects and am confident the team under the incoming CEO, Jonathan Gitlin, upon Ed’s retirement, will continue to build and grow from this solid foundation.”

About RioCan

RioCan is one of Canada’s largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As of December 31, 2020, our portfolio is comprised of 223 properties with an aggregate net leasable area of approximately 38.3 million square feet (at RioCan's interest) including office, residential rental and 14 development properties. To learn more about us, please visit www.riocan.com.

For further information please contact:

Ed Sonshine Chief Executive Officer  RioCan Real Estate Investment Trust (416) 866-3033 Jonathan Gitlin President & Chief Operating Officer RioCan Real Estate Investment Trust (416) 866-3033

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Source: RioCan Real Estate Investment Trust


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