NASHVILLE, Tenn., Nov. 2, 2015 /PRNewswire/ -- Brookdale Senior
Living Inc. (NYSE: BKD) announced today that Labeed Diab will join the Company as its Chief
Operating Officer, and Lucinda (Cindy)
Baier will join the Company as its Chief Financial Officer,
concluding the executive search process previously announced by the
Company. Both Mr. Diab and Ms. Baier will report to
Andy Smith, the Company's Chief
Executive Officer. Mr. Diab will have responsibility for all
aspects of operations, including community and field operations,
marketing and sales. Ms. Baier will have responsibility for
the Company's accounting, finance, tax, financial reporting and
treasury functions. Mr. Diab is expected to start on
November 16, 2015, and Ms. Baier is
expected to start on December 1,
2015.
In addition, the Company announced that Mary Sue Patchett has been promoted to Executive
Vice President – Community and Field Operations, reporting to Mr.
Diab. Ms. Patchett has served as President of the Company's
Southeast Division since 2013. The Company's other senior
housing division presidents will report to Ms. Patchett and she
will join Mr. Diab and Ms. Baier as new members of the Company's
senior management executive committee.
As previously announced, Mark
Ohlendorf, the Company's President and Chief Financial
Officer, will step down as Chief Financial Officer upon Ms. Baier's
joining the Company and will continue to serve in his role as
President. In the near term, Mr. Ohlendorf will assist in the
transition of his operating duties to Mr. Diab and his CFO duties
to Ms. Baier. In his role as President, Mr. Ohlendorf will be
responsible for revenue cycle management, strategy and innovation,
owner relations, corporate development and acquisitions, and public
policy and government affairs.
Mr. Diab brings significant retail and health & wellness
operational leadership experience to the Company. Most
recently, he served as President of Health and Wellness of
Walmart's US division. He was responsible for the
organization's full-service health and wellness offerings,
including vision centers and primary care clinics, comprising
approximately 5,000 nationwide locations with more than 85,000
associates. Mr. Diab was previously President of the Midwest
division for Walmart US, managing retail stores and overseeing
approximately 100,000 associates.
Ms. Baier has more than fifteen years of executive leadership
experience in accounting, taxation, finance and treasury functions,
having most recently served as Executive Vice President and Chief
Financial Officer of Navigant Consulting, Inc. In addition,
she previously served as Chief Financial Officer of Central Parking
System, Inc., Movie Gallery, Inc., and World Kitchen, LLC.
Ms. Patchett has over 30 years of senior care and housing
experience serving in leadership roles, most recently as a Division
President since February 2013. Prior to that, she was a
Divisional Vice President since joining Brookdale in September 2011 with the Company's acquisition of
Horizon Bay. At Horizon Bay, Ms. Patchett had served as Chief
Operating Officer and as Senior Vice President of Operations.
"I am excited to welcome Labeed and Cindy, who bring decades of
executive experience in large organizations with complex multi-site
businesses, to help lead our organization," said Mr. Smith.
"Labeed's mix of retail and health and wellness operational
leadership experience is uniquely suited for Brookdale, and we will
rely on his expertise to create stockholder value through
improvements to our operational effectiveness," continued Mr.
Smith. "Cindy brings to Brookdale extensive financial and
strategic experience in a diverse set of industries. We will
count on her leadership as we work to leverage our opportunities to
create value and achieve long-term growth. Cindy's arrival in
the Chief Financial Officer role will also allow Mark to focus on
his role as President in areas critical to our business, including
the Company's innovation initiatives. Finally, Mary Sue has accumulated tremendous operations
experience in her more than three decades of leadership in our
industry, and she will be key to blending Labeed's outside
perspective with our business and culture," continued Mr.
Smith.
Labeed Diab
Labeed Diab has served in
operational leadership roles for the Walmart US division of
Wal-Mart Stores, Inc. since 2009, most recently serving as its
President of Health and Wellness, and prior to that serving as its
President of Midwest Division and its Vice President and General
Manager. He previously served as Regional Vice President of
Aramark's Health Care Division and as Regional Vice President for
Rite Aid Corporation. Mr. Diab began his career as a Pharmacy
Manager with American Stores Company and later served in regional
roles for CVS Caremark. Mr. Diab holds a Bachelor of Science
degree in Pharmacy from Southwestern Oklahoma
State University and is a Registered Pharmacist. Mr. Diab
also completed an advanced management program from Duke University, Fuqua
School of Business.
Lucinda Baier
Lucinda Baier has more than
fifteen years of executive leadership experience in accounting,
taxation, finance and treasury functions, most recently serving as
Executive Vice President and Chief Financial Officer of Navigant
Consulting, Inc., a specialized global expert services firm, since
March 2013. Prior to that, she was Executive Vice President,
Chief Financial Officer and Chief Administrative Officer of Central
Parking System, Inc., a leading firm in parking management and
marketing, having previously served as its Senior Vice President
and Chief Financial Officer. Ms. Baier also previously served
as Executive Vice President and Chief Financial Officer of Movie
Gallery, Inc. and as Chief Financial Officer of World Kitchen,
LLC. In addition, Ms. Baier serves as a member of the Board
of Directors and Audit Committee of The Bon-Ton Stores, Inc., one
of the largest regional department store operators in the United
States. Ms. Baier is a graduate of Illinois State University, with Bachelor and Master
of Science degrees in Accounting, and is a Certified Public
Accountant.
Mary Sue Patchett
Mary Sue Patchett has over 30
years of senior care and housing experience serving in leadership
roles, most recently serving as the Company's Southeast Division
President and prior to that as Divisional Vice President since
joining the Company in September 2011
in connection with the Company's acquisition of Horizon Bay.
Previously, Ms. Patchett served as Chief Operating Officer of
Horizon Bay and as its Senior Vice President of Operations. Ms.
Patchett has served on numerous industry boards and is serving on
the board of Florida Assisted Living Federation of America as its
past chair. She holds a Bachelor of Business Administration
degree from George Mason
University.
About Brookdale Senior Living
Brookdale Senior Living Inc. is the leading operator of senior
living communities throughout the United
States. We are 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 we operate
independent living, assisted living, and dementia-care communities
and continuing care retirement centers, with approximately 1,135
communities in 47 states and the ability to serve approximately
110,000 residents. Through our ancillary services program, we also
offer a range of outpatient therapy, home health, personalized
living and hospice services.
Safe Harbor
Certain statements in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are subject to various risks and uncertainties and
include all statements that are not historical statements of fact
and those regarding our intent, belief or expectations, including,
but not limited to, statements relating to the Company's
operational initiatives and effectiveness, innovation strategies,
long-term growth and the creation of value. Forward-looking
statements are generally identifiable by use of forward-looking
terminology such as "will," "expect," "intend," "believe,"
"continue," or other similar words or expressions. These
forward-looking statements are based on certain assumptions and
expectations, and our ability to predict results or the actual
effect of future plans or strategies is inherently uncertain.
Although we believe that expectations reflected in any
forward-looking statements are based on reasonable assumptions, we
can give no assurance that our expectations will be attained and
actual results and performance could differ materially from those
projected. Factors which could have a material adverse effect on
our operations and future prospects or which could cause events or
circumstances to differ from the forward-looking statements
include, but are not limited to, the risk associated with the
current global economic situation and its impact upon capital
markets and liquidity; changes in governmental reimbursement
programs; our inability to extend (or refinance) debt (including
our credit and letter of credit facilities) as it matures; the risk
that we may not be able to satisfy the conditions precedent to
exercising the extension options associated with certain of our
debt agreements; events which adversely affect the ability of
seniors to afford our monthly resident fees or entrance fees; the
conditions of housing markets in certain geographic areas; our
ability to generate sufficient cash flow to cover required interest
and long-term operating lease payments; the effect of our
indebtedness and long-term operating leases on our liquidity; the
risk of loss of property pursuant to our mortgage debt and
long-term lease obligations; the possibilities that changes in the
capital markets, including changes in interest rates and/or credit
spreads, or other factors could make financing more expensive or
unavailable to us; our determination from time to time to purchase
any shares under the repurchase program; our ability to fund any
repurchases; our ability to effectively manage our growth; our
ability to maintain consistent quality control; risks associated
with regulatory oversight and approvals; the risk that we may not
be able to expand, redevelop and reposition our communities in
accordance with our plans; our ability to complete acquisitions and
integrate them into our operations; competition for the acquisition
of assets; our ability to obtain additional capital on terms
acceptable to us; a decrease in the overall demand for senior
housing; our vulnerability to economic downturns; acts of nature in
certain geographic areas; terminations of our resident agreements
and vacancies in the living spaces we lease; early terminations or
non-renewal of management agreements; increased competition for
skilled personnel; increased union activity; departure of our key
officers; increases in market interest rates; environmental
contamination at any of our communities; failure to comply with
existing environmental laws; an adverse determination or resolution
of complaints filed against us; the cost and difficulty of
complying with increasing and evolving regulation; risks relating
to the integration of Emeritus and the transactions with HCP, Inc.,
including in respect of unanticipated difficulties and/or
expenditures relating to such transactions; the impact of such
transactions on the Company's relationships with residents,
employees and third parties; and the inability to obtain, or delays
in obtaining, cost savings and synergies from such transactions; as
well as other risks detailed from time to time in our filings with
the Securities and Exchange Commission, including our Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q. When considering
forward-looking statements, you should keep in mind the risk
factors and other cautionary statements in such SEC filings.
Readers are cautioned not to place undue reliance on any of these
forward-looking statements, which reflect our management's views as
of the date of this press release. We cannot guarantee future
results, levels of activity, performance or achievements and we
expressly disclaim any obligation to release publicly any updates
or revisions to any forward-looking statements contained herein to
reflect any change in our expectations with regard thereto or
change in events, conditions or circumstances on which any
statement is based.
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SOURCE Brookdale Senior Living Inc.