Ventas Elects New Members to Board
Ventas, Inc. (NYSE: VTR) elected Walter C. Rakowich, retired CEO of Prologis, and Roxanne M. Martino, CEO of Aurora Investment Management, to the real estate investment trust’s (REIT) board of directors, effective immediately.
Rakowich was CEO of Prologis (NYSE: PLD) from November 2008 to June 2011, when Prologies and AMB Property Corporation merged. After that, he served as co-CEO until his retirement at the end of 2012, and now is a member of the board of directors of Host Hotels & Resorts, Inc. (NYSE: HST) and of Iron Mountain Inc. (NYSE: IRM), among others. Rakowich will serve on Ventas’s audit and compliance committee.
Martin has been president and then CEO of Aurora Investment Management since 1990. She has built the Chicago firm into one of the largest managers in the funds-of-funds industry, managing $14 billion at Aurora’s peak. Currently, Martino is the co-chair of the business council at the University of Chicago’s Booth School of Business and a member of the boards of the Lurie Children’s Hospital and The Economics Club of Chicago. Martino will serve on the Ventas board’s executive compensation committee.
“We are delighted to add Walt Rakowich and Roxanne Martino to our board of directors,” Ventas Chairman and CEO Debra A. Cafaro said in a statement. “Their appointments underscore our commitment to excellence through strong corporate governance, board refreshment, independence and diversity. Each is a highly respected individual with an enduring record of accomplishment, strong values and a demonstrated focus on investors.”
Christian Living Communities Names Next CEO
Christian Living Communities, a Colorado-based not-for-profit senior living services organization, named Terry Rogers as its president and CEO. He will be replacing outgoing President and CEO Russ Den Braber, who served in that capacity for 14 years.
Braber grew the company from a $16.6-million, locally based senior services organization to a $54-million organization with reach from coast to coast. He also worked toward the expansion and repositioning of the organization’s three owned and operated life plan communities and led several bond financing events.
Rogers has 27 years of experience in senior living and home health services, most recently working for 16 years as president and CEO of St. Martin’s in the Pines, a senior living community in Birmingham, Alabama.
“Finding someone to continue Russ’ legacy of excellence was a critical task,” Christian Living Communities Chairman Greg Terry said in a statement. “I believe we found a very worthy successor in Terry. He brings experienced leadership and vision for the future, with, more importantly, a true calling to serve others and to carry out our Christian-based mission and values.”
Transition of leadership work will take place throughout the summer, with Rogers officially in place sometime in September.
Presbyterian Communities and Services Selects President After Yearlong Search
Following a yearlong search, Presbyterian Communities and Services selected Tm Mallad as president of the not-for-profit organization, which boasts two continuing care retirement communities (CCRCs) and two hospice centers.
Ballad brings nearly 30 years of senior living experience to the organization. Most recently, he served as first vice president for Irving, Texas-based Greystone Communities. Throughout his career, he’s focused on assisting faith-based, not-for-profit communities in all phases of development and operations, and has also served in executive roles at the community level.
“I am thrilled to have Tim join our team,” Presbyterian Communities and Services Chairman Phil Wentworth said in a statement. “He brings a broad perspective that includes decades of experience working for a for-profit company while helping not-for-profit communities achieve their goals and fulfill their visions. Tim has the ideal background necessary to be successful in this position.”
Located in Dallas, Texas, Presbyterian Communities and Services is a faith-based, not-for profit comprised of Grace Presbyterian Village, Presbyterian Village North, Faith Presbyterian Hospice and the T. Boone Pickens Hospice and Palliative Care Center, which is currently under construction.
Ingleside Names New COO
Ingleside, a senior living services provider in the Washington, D.C. metropolitan area, named Elizabeth (Libby) B. Bush as COO.
In her new role, Bush will be involved with the Ingleside strategic team, responsible for providing leadership and direction for operating functions at Ingleside. She will be tasked with building and standardizing Ingleside processes, programs and systems to further the provider’s mission and goals.
As COO, Bush will have operational responsibility for the provider’s life plan communities Ingleside at Rock Creek, Westminster at Lake Ridge and Ingleside at King Farm, as well as the future home and community-based services entity, Ingleside at Home.
Prior to her new appointment, Bush was executive director at Westminster at Lake Ridge in Lake Ridge, Virginia. Before that, she worked at a life plan community in Richmond, Virginia for 21 years, most recently overseeing four divisions, including independent living, assisted living, memory care and nursing.
“Throughout the past two years, Libby has done an incredible job as executive director at Westminster at Lake Ridge,” Ingleside President and CEO Lynn O’Connor said in a statement. “She has more than 20 years of experience with life plan communities, and her knowledge of the Ingleside vision, mission and values makes her well-suited for the position.”
Timber Ridge Appoints New Resident Health Care Navigator
Timber Ridge, a life plan community in Issaquah, Washington, appointed Kristen Van Hollebeke as resident health care navigator.
In her new role, Van Hollebeke will work with Timber Ridge residents to coordinate health-related services and ensure personal wellness. She has been in the senior living industry for 10 years, and began her career at Timber Ridge as a marketing and admissions coordinator at the community’s onsite Briarwood Health Center. She went on to serve as social services and admissions coordinator before her promotion. She worked at Emerald Heights in Redmond, Washington before joining the team at Timber Ridge.
Timber Ridge is a 184-residence retirement community in Issaquah, an eastern suburb of Seattle.
Mainstreet Announces 3 New Hires
Mainstreet, a developer of post-acute health care properties, added three new employees at its Carmel, Indiana-based headquarters.
Taylor Earl was named a design consultant. Before joining Mainstreet full-time, Earl worked as an intern in the developer’s architecture and design department.
Doug Pederson joined Mainstreet as vice president of development, serving in a project executive role. Peterson has more than 20 years of experience in real estate development, including his consulting company DP3, serving as vice president of the west region for JP Morgan Chase real estate and vice president of development services for Kite Realty Group.
Mainstreet hired Matt Rezkalla as Mainstreet’s newest investment analyst. He interned with the developer’s investment team last year.
Oak Crest Welcomes New Philanthropy Manager
Oak Crest, an Erickson Living retirement community, welcomed Stacey Schiano as the community’s new philanthropy manager.
Schiano brings more than 18 year of fundraising experience to the position, having worked with the Muscular Dystrophy Association, Alzheimer’s Association, Abilities Network and the Sickle Cell Disease Association of America. In her new role, she will be responsible for the management of philanthropic activities at Oak Crest, including the Benevolent Care Fund, which provides confidential assistance to residents who experience unforeseen financial burdens to remain at the community, and the Student Scholarship Funded, which is funded primarily through resident contributions.
Oak Crest is one if 19 CCRCs managed by Erickson Living. The 87-acre campus is located in Parkville, Maryland and is home to more than 2,100 residents.
Written by Kourtney Liepelt