LTC Properties (LTC) said Monday that its chief executive officer, Wendy Simpson, will become executive chairman of the board, while its chief financial officer, Pam Kessler, and chief investment officer, Clint Malin, have been promoted to co-chief executive officers.

The company also said its chief accounting officer, Cece Chikhale, will take over as CFO.

LTC Properties said it is looking for a new chief investment officer to succeed Malin, who will remain in the role until a replacement is named.

The changes will take effect on Dec. 31, the company said.