American Health Properties, the Beverly Hills-based real estate investment trust that was formed a year ago, has named Walter J. McNerney, 62, as its new chairman, effective Feb. 15.
He succeeds Rocco C. Siciliano as chairman. Siciliano also was chief executive, and his successor in that position has not been named.
Siciliano is the former chairman and chief executive of Ticor, the Los Angeles-based financial services company. He had planned to help launch American Health Properties and then move on to pursue other interests.
"This company is in good shape, it doesn't need me," Siciliano said in a telephone interview. "I'm going to be 66 very shortly. I was very happy to help get it started, but I have a lot of things to do."