09:01 AM EDT, 07/08/2024 (MT Newswires) -- DRI Healthcare Trust (DHT-UN.TO) said on Monday that its board of trustees demanded and received the immediate resignation of Behzad Khosrowshahi from the board and as CEO of the Trust.

Khosrowshahi also resigned as CEO of DRI Capital, the Trust's manager.

The resignation follows an ongoing investigation of irregularities related to alleged consulting and other expenses presented by Khosrowshahi to DRI Capital and the Trust for reimbursement.

Additionally, Chris Anastasopoulos has been suspended with pay as CFO of the Trust and CFO of DRI Capital, pending the outcome of the investigation.

The board named Gary Collins, chair of the board, as the Trust's interim CEO. DRI Capital has named Ali Hedayat as its interim CEO while Sandy Kwan will serve as interim CFO of both the Trust and DRI Capital.

DRI Capital said it is cooperating fully with the Trust in connection with the probe and is making an immediate payment to the Trust to recompense for the amount that might be owed. The amount is expected to be about $7.5 million.