AlerisLife Appoints Leer as Permanent CEO, Completes Comprehensive Review

AlerisLife (Nasdaq: ALR) has appointed Jeff Leer as its full-time president and CEO, and announced the completion of an operational review period.

Leer first took over as interim president and CEO following the resignation of Katie Potter in May. Potter led AlerisLife – previously Five Star Senior Living – for more than three years. Leer had worked as executive vice president, CFO and treasurer for the company since 2019.

Leer will also continue to work as the operator’s chief financial officer until the company hires someone new for the role, according to the announcement


In addition to naming a new permanent CEO, AlerisLife also announced that the healthcare consulting arm of Alvarez & Marsel has wrapped up a comprehensive operational review, capping off a process that was announced in May.

Recommendations from the review’s conclusion include cost reductions, corporate reorganization and various other operational changes aimed at supporting team members.

AlerisLife manages 120 communities with 20 communities it owns across 27 states. The company, along with landlord and real estate investment trust partner Diversified Healthcare Trust (Nasdaq: DHC), are both part of Portnoy-led alternative asset management company The RMR Group.


Leer’s newly cemented CEO role comes as the company turns its focus to stabilization. Specifically, the company is taking a narrower focus on driving occupancy growth and cutting costs for the year ahead, Leer said during the company’s first-quarter earnings call this year.

“We have made significant investments in our operational support functions that we expect will provide our operations team with the tools they need,” he said on the call.

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