Brookdale EVP leaving by July
Glenn O. Maul, Brookdale Senior Living executive vice president and chief people officer, will leave the company by July 15, Brookdale announced in a May 16 filing with the Securities and Exchange Commission.
Under the terms of the company's severance policy for “without cause” separation, Maul is eligible to receive $1.54 million in severance pay, which Brookdale said represents 250% of his annual salary of $307,500 for 2016 and 250% of his target annual cash incentive of $307,500 for the year. The amount will be paid in equal installments on the company's regular payroll dates over 18 months beginning 60 days after he leaves the company.
Maul also will be entitled to a pro-rated annual cash bonus for 2016, Brookdale said. Additionally, the company will pay the employer portion of COBRA health insurance premiums for 18 months or until Maul becomes eligible for other insurance, and Maul will receive a payout of up to 160 hours of his paid time off balance.
Maul joined Brookdale in April 2006, according to Brookdale's website. Before joining Brookdale, he was vice president of human resources for Sunrise Senior Living, where he was responsible for all field operations and several corporate functions. His career also includes positions in human resources, operations management and finance.