People Moves: Melcor REIT appoints Naomi Stefura as Trustee

Press Release - Melcor Real Estate Investment Trust (TSX: MR.UN) recently announced the appointment of Naomi Stefura to the board of trustees.

Ms. Stefura is the Executive Vice President and Chief Financial Officer of Melcor Developments Ltd. (Melcor) and also Chief Financial Officer of the REIT. She has been with Melcor in financial oversight and senior leadership roles for almost 15 years. Ms. Stefura also currently serves as Vice Board Chair for Explore Edmonton and was previously Audit Committee Chair of that organization. 

Ralph Young, Chairman of the REIT commented: "We are happy to have Naomi officially join the board of trustees. With instrumental involvement since IPO, she has a wealth of knowledge about the REIT and its history. In addition, Naomi has extensive experience in financial planning and analysis, risk management and capital market transactions, and has been actively involved in each of the transactions that the REIT has undertaken to date." 

Under the Declaration of Trust (DOT) Melcor has the right to nominate a certain number of trustees based on a) its ownership percentage and b) the total number of trustees. With Naomi's appointment, the board is comprised of four independent trustees and three appointed by Melcor. 

Source: Presse Release