Skilled Healthcare Group Announces Pending CEO Retirement and Leadership Changes
Skilled Healthcare Group, Inc. (NYSE: SKH) today announced that its Chairman and Chief Executive Officer, Boyd Hendrickson, has informed the Company's Board of Directors that he intends to retire from his role as Chief Executive Officer around the end of 2013. "While long-term care has been my life for over 40 years, including the last 10 with Skilled Healthcare, I will be turning 69 near the end of this year and I've decided that it's time for me to start moving toward retirement," said Mr. Hendrickson. "I will be working with the Board to ensure a smooth transition for my successor." The Company's Board of Directors will engage a leading executive search firm with extensive experience in healthcare executive placements to identify both internal and external candidates to succeed Mr. Hendrickson.
The Company also announced that, as part of a restructuring of its administrative services company operations, Devasis Ghose will be leaving the Company effective July 31, 2013. Mr. Ghose's current service as the Company's Executive Vice President, Treasurer and Chief Financial Officer will end effective July 8, 2013, but he will remain with the Company through the end of July to assist in the Company's ongoing HUD financing efforts and preparation of the Company's second quarter financial statements. "We want to thank Dev for all of his hard work and commitment over the 5 plus years that he has been with us. We wish him the best in his future endeavors," said Mr. Hendrickson. Christopher N. Felfe will serve as Acting Chief Financial Officer beginning July 8, 2013. Mr. Felfe has served as the Company's Senior Vice President, Finance and Chief Accounting Officer (principal accounting officer) since August 2007. The Senior Vice President, Finance and Chief Accounting Officer position is being eliminated, but Mr. Felfe will continue to serve as principal accounting officer in his new role.
The Company also announced that, as part of the restructuring, Matt Moore, Executive Vice President of Inpatient Operations of Skilled Healthcare, LLC will directly manage facilities in our Tyler and Longview, Texas market with the elimination of his current position. "We are thrilled that Matt is willing to once again use his considerable skills and experience as a nursing home administrator and leader to improve quality and operations in Texas," said Jose Lynch, the Company's President and Chief Operating Officer. "I look forward to the positive results that we all expect will come from Matt's service in his new role."
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