Net-lease real estate investment trust Spirit Realty Capital Inc. will not renew its contract with Executive Vice President, Treasurer and CFO Phil Joseph when it expires April 20.
Joseph will remain with the company through the end of his employment agreement in a mutually agreed-upon decision. The company said there are no issues with Joseph regarding financial statements, internal controls or financial reporting that led to the executive's departure.
Spirit has engaged an executive search firm to find Joseph's replacement.
Also, Executive Vice President and Chief Acquisitions Officer Boyd Messmann is leaving Spirit and will be replaced by senior vice president of asset management and head of the direct sale-leaseback team Daniel Rosenberg, who was promoted to senior vice president of acquisitions.