Brookdale announces director departure, continues to 'explore options'
Brookdale Senior Living leadership announced the impending departure of a director Wednesday while reaffirming the company's commitment to “achieving consistent operational excellence and optimizing our portfolio.”
Mark J. Parrell, a member of the Brookdale Board Directors since 2015, will resign from the position July 24, the scheduled date of the company's 2017 annual meeting. Parrell is a member of the board's audit and investment committees and plans to remain active on them until he leaves the board, the company said.
Leaving the board position will enable Parrell to dedicate more time to other professional commitments, according to Brookdale. Parrell is executive vice president and chief financial officer of Equity Residential, the largest apartment real estate investment trust in the United States, according to Brookdale's website.
Brookdale, the largest senior living operator in the United States, has been in the news lately as it reportedly tries to sell all or part of its portfolio. As of Dec. 31, Brookdale had approximately 1,055 communities in 47 states.
“Brookdale's board and management continue to be highly focused on the execution of our business strategies, including achieving consistent operational excellence and optimizing our portfolio,” Daniel A. Decker, executive chairman of the company's board, said in a statement. “In addition, the board remains hard at work, in conjunction with management and our financial and legal advisers, on our ongoing process to explore options and alternatives to create and enhance shareholder value.”