Broadstone Net Lease, Inc. announced that its Board of Directors has approved a senior executive succession plan pursuant to which John Moragne, currently the Company's Executive Vice President and Chief Operating Officer, will become member of the Board, effective February 28, 2023. President and CEO Chris Czarnecki will step down from his current role and the Board of Directors upon the effective date but will remain with the Company through January 31, 2024, in an advisory role as part of the planned transition. As part of the senior executive succession plan, Ryan Albano, currently the Company's Executive Vice President and Chief Financial Officer, will transition to the role of President and Chief Operating Officer, effective February 28, 2023.

In his new role, Mr. Albano will oversee the Company's investment strategy and real estate operations, including acquisitions, portfolio management, asset management and dispositions, and credit functions. Mr. Albano has served as BNL's Chief Financial Officer since February 2017 and is a member of Investment Committee. Additionally, Kevin Fennell, currently the Company's Senior Vice President of Capital Markets & Credit Risk, will be promoted to Executive Vice President, effective February 28, 2023.