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NewRiver CEO to step down, replacement named

NewRiver REIT CEO David Lockhart, who had taken a leave of absence in August 2017 due to health reasons, has decided to step down as CEO, effective May 1.

David Lockhart will remain involved with the business as executive deputy chairman and advise on strategy, business development, investor relations and talent mentoring.

NewRiver's board has appointed Allan Lockhart the new CEO, also effective May 1. Allan Lockhart and Mark Davies had shared executive responsibilities during David Lockhart's absence. Davies will remain CFO of the company.

Allan Lockhart founded NewRiver with David Lockhart and previously served as property director.