Bill stepped into the industry in 1984 as Chairman and CEO of Nashville-based developer and operator, American Retirement Corporation (ARC). The average estimated annual salary, including base and bonus, at Brookdale Senior Living is $129,794, or $62 per hour, while the estimated median salary is $120,217, or $57 per hour. In addition, he previously served as Chairman of the Board of Directors of the Country Music Association, Vice Chairman of the Board of Directors and Chairman of the Finance and Investment Committee of the Memorial Foundation, Inc., a charitable foundation, and as a member of the Board of Advisors of United Supermarkets of Texas, LLC and was Chairman of its Finance and Audit Committee. Saying goodbye is never easy, especially when it is to someone who means so much to you. Brookdale CEO Lucinda Baier on setting a vision and improving - Ladders Before joining Brookdale, Ms. Elliott served as Senior Vice President of Clinical Quality and Compliance for Centerre Healthcare Corporation and Director of Compliance and Risk Management for Kindred Healthcare. Before becoming CEO of Brookdale, Ms. Baier was the company's Chief Financial Officer beginning in December 2015. She previously served as our Senior Vice President of Clinical Services from July 2014 until August 2021. Emeritus Senior Living - Wikipedia watch now. Mr. Bumstead served on the Board of Directors of Syntroleum Corporation from 1993 to 2014. Thats what matters. His contributions made long-lasting impressions on not just the company, but the industry as well. He is an independent director. . I think that he cares about Brookdale deeply. I recall Bill coming over for dinner as he was deciding whether to come on board, shared Senator Frist. Not that the industry didnt value executive directors before, but I think over the last five years people have really started to put a lot of weight behind EDs, where its like the ED is the CEO of that building. So you wake up, its your first day as CEO, and Brookdale stock drops 20%. Brookdale Senior Living CEO Rings NYSE Bell to Celebrate Book With regard to career-pathing, that is more of an issue for younger associates or for associates who are interested in taking the next step of their career regardless of age. View original content to download multimedia: https://www.prnewswire.com . There are a whole host of activities going on. Early in my career, someone told me this and it really stuck with me: If you take heat and pressure and you apply them to ordinary carbon, you produce a diamond. Thats not to say that real estate doesnt matter. And so we knew that Brookdale was a highly event-driven name. I want to get behind it. Andy sat in the chair before me, not that long ago, and I asked him for his advice. Well be more focused, well be more successful. As part of the strategic review, a lot of people left Brookdale. After submitting your request, you will receive an activation email to the Mr. Bumstead is a principal shareholder of Flood, Bumstead, McCready & McCarthy, Inc., a business management firm that represents artists, songwriters and producers in the music industry as well as athletes and other high net worth clients, and has been with the firm since 1989. When our shareholders are getting a market-leading return. This year were making a very big investment in our people with compensation growing five-and-a-half to six percent. from Vanderbilt University School of Medicine, and an M.S. Fri, Jun 11 20213:13 PM EDT. So having the ability to provide those services is valuable. Whether the government will ultimately choose to pay for that or not, I cant say. If you want to do something differently, you can work in a different part of the country. in Medical Management from the University of Texas at Dallas and Southwestern Medical Center. Mr. Bromley holds a B.S. In addition to my husband, Ill say that early in my career there were a couple of executives, Bob Angle and Mike Barry, who really gave me very good advice. Mr. Wielansky joined Brookdales Board of Directors in April 2015 and served as Non-Executive Chairman of the Board from February 2018 through December 2019. I believe that senior living is a very local business, but that we win by capitalizing on the scale that Brookdale has in areas where it makes sense. Are you using that as a way to recruit younger people or those who might already be in the industry? Genie Out of the Bottle: How Brookdale, LCS - Senior Housing News How is the path that youre laying out different than the one that the previous team held? In 2011, he was part of Brookdales Acquisition of Horizon Bay and became the Regional Vice President of Operations for the Northeast Region. We basically are a roll-up of small senior living companies that have had different cultures over the years. During this time in Bills life, he worked closely with Dr. Thomas Frist, Jack Massey and Earl Swenson. We expected it to happen. Ms. Baier is also on the board of the Nashville Area Chamber of Commerce. President, Chief Executive Officer and Director, Executive Vice President - Finance and Treasurer, Executive Vice President Corporate Development and President CCRCs, Executive Vice President and Chief Financial Officer, Executive Vice President Human Resources, Executive Vice President, General Counsel and Secretary. to send you the requested email alert updates and you agree to our privacy policy, which can be I believe that leadership is a privilege and I also believe in servant leadership. Theyll know if their market is very competitive as it relates to servers or dining staff or nurses in particular, so if they need to pay more to get the right quality of person for their residents, then they should do that as long as its within a pretty broad set of guardrails that we establish. Terms of Service apply. We also knew that it wasnt indicative of the value of the company, but it was the need to change [our] shareholder base from people who are event-driven to long-term investors. That doesnt mean they can do absolutely everything independently. At the end of the day, you go into something, you know its hard, you get a team pulled together that can do something that they may not even think is possible. Mr. Sansone has served as Chairman of the Board of Directors of Pediatrix Medical Group, Inc. (formerly known as Mednax, Inc.) since July 2020. When did you approach Bill about potentially coming back? All Rights Reserved. That is something we really embrace. Well, think about how we were formed. Theyre grateful that we get to focus on our mission. He currently serves as Chairman and CEO of Opportunistic Equities, which specializes in low-income housing. We do the right amount of targeting with regard to marketing. With all these new communities coming into the market competing with your existing communities, what can you do to help your executive directors? You dont have the pressure of quarterly earnings. Before you decided to take the job as CEO this year, were there any reservations about it? He previously served as our Senior Vice President and General Counsel from March 2017 until January 2018, our Senior Vice President and Co-General Counsel from July 2014 to March 2017, our Vice President and Co-General Counsel from March 2013 to July 2014, and our Associate General Counsel and Assistant Secretary prior to that. Saying Goodbye to a Pioneer - Brookdale Senior Living Solutions Ms. Kussow is a Certified Public Accountant. This award will be presented to Baier and Brookdale at the CED Distinguished Performance . You must click the activation link in order to complete your subscription. found at: Privacy Policy, Investor Relations: In 2011, he was part of Brookdales Acquisition of Horizon Bay and became the Regional Vice President of Operations for the Northeast Region. Prior to that, from 2005 to September 2015, Ms. Warren served as Chief Financial Officer of Capella Healthcare, Inc., an owner and operator of general acute-care hospitals, as well as its Executive Vice President since January 2014, and as its Senior Vice President prior to that. Im an outsider to the industry, [having been here since 2015]. She is a trustee of the United Way of Miami-Dade County and serves as a member of the board of Jewish Adoption and Foster Care Options (JAFCO). I think having advisors, and having the wisdom to listen to those advisors, is a pretty big strength. Victoria L. Freed joined Brookdales Board in October 2019 and is an independent director. Carey School of Business at Arizona State University (ASU) and is currently pursuing her M.B.A. from ASU. or to opt out at any time. Dawn Kussow joined Brookdale in March 2007 and has served as Brookdales Executive Vice President and Chief Financial Officer since February 2023. Brookdale Senior Living is part of the Elderly Care Services industry, and located in Tennessee, United States. We're looking for difference makers, compassionate leaders and purpose-driven people. Im pretty good with change. degree from Southern Methodist University and a Masters of Business Management from Vanderbilt Universitys Owen School of Management. With regard to leadership being a privilege, I think that the expectations of a leader are higher as you advance in your career. Were using artificial intelligence in some of the financial aspects of the business. His dedication and service to the company still strongly resonate throughout the communities of Brookdale. We are all better for what he gave to. This is the third time Baier has been included on the list. Before joining Capella, she served as Senior Vice President and Chief Financial Officer of Gaylord Entertainment Company from 2000 to 2001, as Senior Equity Analyst and Research Director for Avondale Partners LLC and as Senior Equity Analyst for Merrill Lynch & Co. She also currently serves on the Board of Directors of Computer Programs and Systems, Inc., Newport Healthcare, Straive, and Virtusa, Inc. Ms. Warren is National Association of Corporate Directors (NACD) Directorship CertifiedTM and received a Corporate Directors Certificate from Harvard Business School. We have more data than anyone in the industry. Jaclyn Pritchett joined Brookdale in 2016 and has served as Executive Vice President Human Resources since March 2022. There is much more that could be said about Bill, but well leave it to others who had the privilege and opportunity to serve alongside him. Ms. Fischer has more than 20 years of experience in operations in the senior living industry beginning her career as an Administrative Director in 2002. Prior to that, he served as a Managing Director of Alvarez & Marsal, a global professional services firm specializing in performance improvement for large, high profile businesses, where he served as Chairman of the firms Healthcare Industry Group, which he founded in 2004. Again, leveraging the industry experience is important. Its been so exciting to see how our executive directors and our community associates have responded to Bill coming back and how he is engaged with the business and is unlocking so much energy as we go through this challenging period. "But we have work to do in assisted living and memory care," Baier told McKnight's Senior Livingin an interview after the earnings call. Labor is tight. Marcus E. Bromley joined Brookdales Board of Directors in July 2017 as an independent director and brings more than 45 years of real estate industry leadership experience. What was different for us and what was unfortunate, is that our strategic review played out in the press. At the end of the day, were very happy owning the business. Why would you say that, as a publicly traded company? At the end when youre successful, the reward is just tremendous. Todd Kaestner is an example. They, formed ARC with a vision of generational respect and dignity, remarked Senator Bill Frist (son of Dr. Frist). All the rumors around who may or may not be buying Brookdale were distressing to our company because recruiters used them to take good people and convince them to leave. He influenced the lives of so many people including mine, remarked Ken. In her third year as CEO in 2020, J.D. The reason that we got into the hospice business is that ourresidents asked us to. Compare pay for popular roles and read about the team's work-life balance. But the good side of that is that its allowed me to engage with a lot of our associates and with our residents and keep up with the fast pace of change that we need for the business. George T. Hicks became our Executive Vice President - Finance in July 2006, and our Treasurer in January 2016. Hes taken on leadership responsibility for our asset management. It was Bill who got me involved with theEntry Fee Advisory Group and those wonderful seven years ofBrookdaleinvolvement. Do what you say youre going to do is probably the best piece of advice. You can become oversight, whether its the district or regional roles. The company's 30,000+ employees are taking care of America's seniors. Lucinda M. ("Cindy") Baier - Brookdale Senior Living Solutions Brookdale Senior Living Inc. currently operates independent living . Freed is Senior Vice President of Sales, Trade Support and Service for Royal Caribbean International, having served in that role since 2008, where she oversees the largest sales team in the cruise line industry and also manages the companys consumer outreach, reservations, group sales and customer service functions. Mr. Ricci received a Bachelors of Science Degree in Business Administration from Providence College. In addition to experience as a seasoned chief financial officer for several companies, she has been responsible for multi-billion-dollar operations, the chief executive officer for a publicly-traded retailer, and served as an executive officer of a Fortune 30 company. By providing your email address below, you are providing consent to Brookdale Senior Living
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