Management ChangeJun 22, 2026, 03:26 PM
Pacific Oak REIT Appoints Bradley Scher as CEO & Chairman
AI Summary
Pacific Oak Strategic Opportunity REIT, Inc. announced a significant overhaul of its leadership. Bradley E. Scher was appointed as Chairman of the Board, director, President, and Chief Executive Officer, effective June 18, 2026. This follows the immediate resignations of four directors on June 15, 2026, and Kenneth Yee's resignation on June 18, 2026. Additionally, CFO Brian Ragsdale's contract will not be renewed, with his termination effective August 11, 2026.
Key Highlights
- Bradley E. Scher appointed Chairman, Director, President, and CEO on June 18, 2026.
- Laurent Degryse, William Petak, Keith Hall, and Peter McMillan III resigned from the Board on June 15, 2026.
- Kenneth Yee resigned from the Board on June 18, 2026.
- CFO Brian Ragsdale's contract will not be renewed, terminating August 11, 2026.
- Mr. Scher's compensation is $5,000/month for CEO and $7,500/month for Chairman/Director.
- Company will cover Mr. Scher's reasonable out-of-pocket expenses and provide indemnification.
Price Impact
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