Brookdale Senior Living(BKD) Prnewswire·2025-04-14 10:45Group 1: CEO Transition and Governance Changes - The Board of Directors of Brookdale Senior Living Inc. has initiated a search for a new Chief Executive Officer to drive operational and financial improvements and enhance shareholder value [2][3] - Lucinda M. Baier has stepped down as President and CEO effective April 13, 2025, and has also resigned from the Board of Directors [2][3] - Mark Fioravanti has been appointed as a new independent director, while Frank M. Bumstead will not stand for reelection at the 2025 Annual Meeting [5][6] Group 2: Interim Leadership and Operational Continuity - Denise W. Warren has been appointed as Interim CEO and will oversee day-to-day operations until a permanent CEO is named [3] - An Office of the CEO has been established, consisting of Ms. Warren, Dawn L. Kussow (CFO), and Chad C. White (General Counsel) to ensure business continuity [3] Group 3: Financial Performance and Outlook - Preliminary results for the first quarter of 2025 indicate that Brookdale's Adjusted EBITDA is expected to exceed both the company's and analysts' consensus expectations, with positive Adjusted Free Cash Flow anticipated [8][9] - The company expects RevPAR to exceed internal expectations, with a return to pre-pandemic occupancy rates projected to deliver approximately 125 million in incremental operating income [9] Group 4: Strategic Focus and Future Growth - The Board believes that Brookdale is well-positioned to deliver sustained returns to shareholders, capitalizing on the aging baby boomer demographic and improving occupancy rates [4][9] - The company aims to leverage its fixed cost model to return to pre-pandemic margins while focusing on profitable occupancy growth and Adjusted EBITDA enhancement [4][9]