The board of directors has nominated the following individuals to be elected as directors by the holders of the Company's common stock and Series C preferred stock, voting together as a single class, each to serve for a one year term ending at the 2016 annual meeting of stockholders: Romeo Cefalo
, Barry Chase, Steven Pearson, John Mark Ramsey, Ronald Shuck and James Skorheim.
Romeo Cefalo, age 65, has served as one of our independent directors since August 2008 and has served as chairman of our board since May 2014 when the prior chairman of the board retired.
From 2004 to 2006, Mr. Cefalo was Executive Vice President of Real Estate, Construction and New Store Development for Albertsons, Inc.
was responsible for managing Albertson's real estate operation and $1.5 billion annual capital budget.
From 2001 to 2004, Mr. Cefalo was Executive Vice President of Operations for Albertsons.
His responsibilities included managing growth planning and capital budgets.
From 1995 to 2001, Mr. Cefalo was President of Lucky Stores in Buena Park, California, and was responsible for $6.0 billion in sales and $400.0 million in earnings.
Mr. Cefalo received his Master of Business Administration from New Hampshire College in 1984.
For the following reasons, the board concluded that Mr. Cefalo should serve as a director.
In addition to his management experience, Mr. Cefalo's specific knowledge of commercial real estate and related investment and financing activities position him very well to provide the board of directors with valuable industry-specific insight and experience.
As the current chairman of the board of directors, Romeo Cefalo is responsible for chairing board meetings and meetings of stockholders, setting the agendas for board meetings and providing information to the other directors in advance of meetings and between meetings.
Consistent with these considerations, after review of all relevant transactions or relationships between each director, or any of his family members, and Sentio Healthcare Properties
, our senior management and our independent registered public accounting firm, the board of directors has determined that Romeo Cefalo
, Barry Chase, Steven Pearson, Ronald Shuck and James Skorheim are independent, and consequently the majority of our board of directors is comprised of independent directors.