Michael R. Walker, chairman of Wilmington, Del.-based ElderTrust, has been appointed to the additional posts of acting president and chief executive officer, replacing D. Lee McCreary Jr., who has resigned.The company said it would recognize approximately $1.3 million of severance expense during the third quarter relating to Mr. McCreary's departure. Mr. McCreary, who resigned all his posts with the real estate investment trust and its subsidiaries, said "it's time for new leadership" at ElderTrust. The equity health care REIT can be found online at http://www.eldertrust.com.
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