Five Star Senior Living Inc. Names Adam D. Portnoy as Managing Director

March 20, 2018

NEWTON, MA–Five Star Senior Living Inc. (Nasdaq: FVE) has announced that Adam D. Portnoy has been elected as a managing director of FVE effective March 20, 2018, to fill a vacancy on the Board.

Portnoy, 47, is the managing director, president and CEO of The RMR Group Inc. (Nasdaq: RMR) and president and chief executive officer of The RMR Group LLC. He also is the sole trustee and an owner of ABP Trust, whose wholly owned subsidiary owns approximately 36% of FVE’s outstanding common stock. Portnoy also serves on the boards of other publicly traded companies managed by The RMR Group LLC.

Prior to joining RMR in 2003, Portnoy held various positions in the finance industry and public sector, including working as a banker at Donaldson, Lufkin & Jenrette and ABN AMRO, working in private equity at the International Finance Corporation (a member of The World Bank Group) and DLJ Merchant Banking Partners, as well as founding and serving as CEO of a telecommunications company. Portnoy currently serves as the honorary consul general of the Republic of Bulgaria to the Commonwealth of Massachusetts, and he was formerly a member of the board of trustees of Occidental College and the board of governors of the National Association of Real Estate Investment Trusts.

Five Star Senior Living Inc. is a senior living and healthcare services company that owns, leases and manages senior living communities, including primarily private pay independent and assisted living communities located throughout the U.S. FVE is headquartered in Newton, MA.