Brookdale CEO Andy Smith to become president as two executives exit
Brookdale Senior Living CEO Andy Smith will add the duties of president to his role later this month as the company's current president and also its executive vice president step down, the company announced today.
EVP Kristin Ferge will step down March 11, and President Mark Ohlendorf will step down March 18.
“As we've worked through the transition process following the hiring of Labeed Diab as our new chief operating officer and Cindy Baier as our new chief financial officer late last year, we have continued to refine our thinking regarding the organizational structure necessary to position us for future growth and success,” Smith said in a statement. “As a result of that review, we have determined that it is best to move most of the functions currently reporting to Mark and Kristin to the organizations headed by Labeed and Cindy.”
Diab will oversee the company's service alignment and owner relations functions, and Baier will oversee the company's pricing, revenue cycle management and analytics initiatives. Smith will oversee the company's corporate development function and strategy and innovation initiatives.
Ohlendorf has served in a variety of executive leadership roles for Brookdale and one of its predecessor companies since 1997, including service as Brookdale's chief financial officer from March 2007 until November 2015. Ferge joined one of Brookdale's predecessors in 1998 and has served as an executive vice president of Brookdale since August 2005 and as chief accounting officer from July 2014 through January 2016.
“On behalf of our board and everyone at Brookdale, I want to express our sincere thanks to Mark and Kristin for their tremendous leadership over the years,” Smith said. “They are talented and dedicated leaders who have made many valuable contributions to our company, and we wish them all the best.”