Carrie Rengers

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Dan Weber is out as Value Place CEO

12/20/2013 12:43 PM

12/20/2013 1:13 PM

WICHITA — Two and a half years after taking over at Value Place, Dan Weber is out as CEO.

"It really was Dan coming to the conclusion of the things he set out to do," says Kyle Rogg, president and COO.

"He really came in with a lot of structured finance background with the goal of getting a lot of capital in the company and completing some big acquisitions," Rogg says.

He says Weber and Value Place's board decided it was time to move to "less of a financial-based CEO and more of a hotel-oriented CEO."

"It was a joint decision," Rogg says. He says Weber has "had such a dramatic and positive impact on the standing of the company. I just don't want it to be perceived as anything other than that."

Rogg says Weber negotiated the acquisition of Perry Capital minority interest in Value Place, which positioned the company to attract capital from a new partner.

That happened late last year when Value Place founder Jack DeBoer did a deal with New York-based private equity firm Lindsay Goldberg, which is investing more than $100 million in the chain of extended-stay properties and short-term apartments.

"Dan was very, very instrumental ... given his background," Rogg says.

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About Carrie Rengers

Carrie Rengers joined The Eagle's Business team in 2002 despite her inability to even balance a checkbook. Fortunately for her, and readers, her Have You Heard? blog is about business scoops and contains lots of news but almost no math.

A Michigan native, Carrie’s father was quite tragically transferred to Little Rock, Ark., in the middle of her sophomore year of high school. To make matters worse, her parents put her in a girls school. She recovered, though, and went on to enjoy being an English major at Hendrix College (the Harvard of the Ozarks, don’t you know). She worked for the weekly Arkansas Business and the statewide daily Arkansas Democrat-Gazette before moving to Wichita to be with her favorite writer and cook, husband Joe Stumpe.

Carrie encourages readers to contact her with tips, questions, behind-the-scenes business news and even funny quotes from business people. Reach her at 316-268-6340 or crengers@wichitaeagle.com

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