Brookdale Announces Leadership Changes
Mark Ohlendorf, President and Chief Financial Officer, to Focus on Enhanced Role as President. Gregory Richard, Chief Operating Officer, to Step Down.
NASHVILLE, Tenn., Brookdale Senior Living Inc. (NYSE: BKD) today announced that Mark Ohlendorf, the Company’s President and Chief Financial Officer, will transition from his current dual roles to focus on an enhanced role as President. The Company also announced that Gregory Richard, the Company’s Chief Operating Officer, will step down effectiveSeptember 30, 2015. As President, Mr. Ohlendorf will immediately assume an active role in the Company’s operations leadership and will direct Brookdale’s innovation initiatives.
Andy Smith, Brookdale’s CEO, said, “As we approach the one-year anniversary of the Brookdale and Emeritus merger and near the conclusion of integrating our businesses onto a common systems platform, we had a natural opportunity to examine our executive leadership team and organizational structure to ensure we have the right people in the right roles going forward. Through his more than 30 years of executive leadership in the senior housing and health care industry, Mark has developed a unique combination of operational and financial expertise, and we believe these changes will enable us to fully leverage Mark’s expertise as we continue to improve our operational effectiveness and advance our growth.”
“I am excited about the opportunity as Brookdale navigates through this important stage of its development,” said Mr. Ohlendorf. “We have the best people in the business, and I look forward to collaborating with our leadership teams and continuing to refine our operations and innovation strategies as we position Brookdale for growth and continued value creation.”
The Company has initiated a search process to identify a new Chief Financial Officer and a new Chief Operating Officer, and has retained Heidrick & Struggles, a leading executive search firm, to assist in this process. The Company will consider both external and internal candidates. Mr. Ohlendorf will continue to serve as the Company’s Chief Financial Officer until a successor is appointed.
Mr. Richard, who joined Brookdale through the merger of American Retirement Corporation and Brookdale in 2006, has served as COO since 2013 and as Executive Vice President – Field Operations prior to that. “On behalf of the Board and everyone at Brookdale, I want to thank Greg for his leadership and significant contributions to our company over the past 15 years, including his many contributions to our organizational integration efforts,” said Mr. Smith. “Greg has been an important member of Brookdale’s team, and we wish him all the best.”
About Mark Ohlendorf
Mark Ohlendorf has served as the Company’s President since June 2013 and Chief Financial Officer since March 2007. He previously served as the Company’s Co-President from August 2005 until June 2013. Mr. Ohlendorf joined the Company through its merger with Alterra Healthcare Corporation in August 2005, where he was CEO and President since December 2003. Prior to that, Mr. Ohlendorf served as President and Chief Financial Officer of Alterra in 2003 and as Senior Vice President and Chief Financial Officer from 1999 through 2002. Mr. Ohlendorf has over 30 years of experience in the health care and long-term care industries, having held leadership positions with such companies as Sterling House Corporation, Vitas Healthcare Corporation and Horizon/CMS Healthcare Corporation. Mr. Ohlendorf currently serves on the Board of Directors of the Assisted Living Federation of America (ALFA) and previously served as Chairman of ALFA’s Board of Directors from 2011 to 2013.
Mr. Ohlendorf earned a bachelor’s degree from Illinois Wesleyan University, and is a certified public accountant.
About Brookdale Senior Living
Brookdale Senior Living Inc. is the leading operator of senior living communities throughout the United States. The Company is committed to providing senior living solutions primarily within properties that are designed, purpose-built and operated to provide the highest-quality service, care and living accommodations for residents. Currently the Company operates independent living, assisted living, and dementia-care communities and continuing care retirement centers, with approximately 1,150 communities in 47 states and the ability to serve approximately 111,000 residents. Through its ancillary services program, the Company also offers a range of outpatient therapy, home health, personalized living and hospice services.