Pegasus Senior Living CEO and Chair Steven Vick has retired, and co-founder Chris Hollister has taken the reins of the Dallas-based company as its new CEO and chair.
Vick is stepping away from the leadership role after “battling some health problems” for several years, according to a press release on the announcement.
“Chris has been my partner and co-founder in Pegasus since day one,” Vick said in the release. “I am confident he and his team will carry on the mission and the work to deliver quality care to our residents and the communities we serve.”
Vick and Hollister, both senior living industry veterans, founded the company in 2018 to take over the leases of 36 former Brookdale Senior Living (NYSE: BKD) communities for landlord Welltower (NYSE: WELL). Today, the company manages 38 senior living properties in 12 states.
As CEO, Hollister will lead the company as it navigates the remainder of the Covid-19 pandemic.
“As part and parcel to that, we want to fill holes we have in a few positions with sales and executive directors,” Hollister told Senior Housing News on Friday. “It’s all about leads and re-energizing, and getting occupancy back up to where we were — and hopefully even exceeding where we were — before the pandemic.”
In the months ahead, Pegasus is focused on winning and keeping the trust of its residents and employees in order to grow its census.
“That message is just so important: making sure everyone believes we have a safe offering and that we can take care of people the right way,” Hollister said.
Hollister added that the Pegasus is “actively discussing [with] Welltower, and we’re excited about growing the relationship with them.”
“We had so much to work on — and still do — our own portfolio,” Hollister said. “But … later this year and into 2022, I think we’re going to be poised for taking on more with Welltower.”
Pegasus also made other personnel announcements on Friday, including the hiring of Richard Williams, who will join the company as COO on June 7. Williams is coming from residential real estate company HHHunt, where he has been a senior vice president of the senior living division since 2007.
Williams and Hollister also previously worked together at Southern Assisted Living.
“Rich Williams is going to be a huge addition,” Hollister said. “I’ve known him for 30 years and worked with him for [a combined] 14 years.”
The company also promoted Daniel Leaf to senior vice president of operations, and promoted Wade Mullins to chief financial and administrative officer.
Leaf has more than 15 years of experience in senior living management, including in India and China; and Mullins oversees several areas of the company, including IT, capital projects and maintenance, food service, contract administration and home office management.
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