Hines Global Income Trust Inc. said Sherri Schugart will hand over her roles of CEO and president to Jeffrey Hines and Alfonso Munk, respectively.
To ensure a smooth transition, Schugart would continue as an executive adviser to the new CEO, board and management through July 2020. She plans to remain a director, CEO and president of Hines Global REIT Inc. and as chairman and CEO of HMS Income Fund Inc., as well as assume certain management roles at other Hines Interests LP-affiliated entities and funds through July 2020.
Additionally, David Steinbach is transitioning his responsibilities as Hines Global Income's chief investment officer, or CIO, into CIO – Americas and CIO – Europe, in conjunction with his election as a board member in September.
Hines will remain chairman at Hines Global Income, while Munk will add the president title to his role as chief investment officer – Americas, which he assumed in October. Alex Knapp, CIO – Europe for Hines Interests, will take over the same role at Hines Global Income, effective Dec. 31.
The leadership transitions were approved by Hines Global Income's board on Dec. 11 and will become effective Dec. 31.