Former Brookdale CEO Bill Sheriff to Rejoin Company as Consultant

Baier, left, and Sheriff Baier, left, and Sheriff

NASHVILLE, Tenn. — Brookdale Senior Living (NYSE: BKD) has re-hired Bill Sheriff, the company’s former CEO, as a consultant.

Based in Nashville, Brookdale operates 1,023 communities in 46 states that can serve up to 101,000 residents as of Dec. 31, 2017. Although it is the largest owner and operator of seniors housing in the country, the company has struggled for the past few years following its $2.8 billion acquisition of fellow giant Emeritus in 2014.

Two recent proposals to sell the company fell through, which led to the current transition period. Former CFO Cindy Baier was promoted to CEO at the end of February and has promised major changes in the way the company works.

Sheriff represents a return to the more successful days of Brookdale. He served as CEO from 2006 until his retirement in 2013, before the Emeritus acquisition. He was also on the company’s board of directors, and was chairman and CEO of America Retirement Corp. from 1984 until Brookdale acquired it in 2006.

In 2017, Sheriff received a Distinguished Service Award for lifetime achievement from Argentum. He became an inaugural member of the American Senior Housing Association’s (ASHA) Senior Living Hall of Fame earlier this year and has also received that organization’s Lifetime Achievement Award.

“I’m delighted that Bill has accepted my invitation to serve as a consultant,” says Baier. “His familiar presence and knowledge of what has worked at Brookdale and in senior living historically will help support our strategic pivot of returning to what made Brookdale successful.”

BKD stock closed at $6.64 per share on Wednesday, April 4, down from $13.11 one year ago.

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