Carey Watermark Investors Incorporated (CWI), a public, non-traded REIT, recently disclosed that its Chief Financial Officer (CFO), Catherine D. Rice, has resigned.
According to the filing, Rice will remain a Managing Director of the REIT. It was unclear why she resigned from the role of CFO. To serve as Rice’s replacement, CWI’s Board of Directors appointed Hisham A. Kader the new CFO.
Kader, 45, has been the REIT’s Chief Accounting Officer (CAO) since March 2012. In addition, he serves as the CFO (since February 2015) and CAO (since May 2014) for Carey Watermark Investors 2 Incorporated, an affiliate non-traded REIT. Kader is also the CAO of W.P. Carey Inc., a publicly traded REIT and sponsor to non-traded REITs including CWI.
Prior to joining W.P. Carey, Kader served as a Director in the Transaction Services practice at PricewaterhouseCoopers LLP (PwC). He joined PwC in 1997 and participated in mergers and acquisitions, capital raising transactions, finance effectiveness and accounting standards conversions, among others, here in the U.S. and overseas.
Kader, a Certified Public Accountant, holds a B.E in Electronics and Communication Engineering from the Manipal Institute of Technology in India, an M.B.A in Finance from the University of Illinois at Urbana-Champaign and an M.S. in Accounting from Pace University.
CWI is closed to new investors as of December 31, 2014. It raised $577.4 million and $575.8 million in its follow-on and initial public offerings, respectively.