Feb. 11, 2013
/PRNewswire/ -- Brookdale Senior Living Inc. (NYSE: BKD) today announced that its Board of Directors has selected
T. Andrew (Andy) Smith
to serve as Chief Executive Officer of the Company. Mr. Smith, currently the Company's Executive Vice President and General Counsel, will succeed
as CEO, who had previously announced his intent to retire after 28 years with the Company and its predecessors. Mr. Smith will assume the new role on the first business day following the filing of the Company's Annual Report on Form 10-K for the year ended
December 31, 2012
, which the Company expects to occur within approximately the next week.
Jeffrey R. Leeds
, Brookdale's Chairman, commented, "The Board conducted an extensive search for
's successor, which considered candidates inside and outside the Company. We concluded that Andy's sharp intellect, deep understanding of and experience in the senior living industry, and his strong commitment to our philosophy and values best qualifies him to lead our Company into the future."
Mr. Leeds continued, "Andy assumes leadership of a company with a unique position in the senior living industry in terms of the size, scope and quality of its product offerings. This commanding presence is a testament to
's vision and wisdom in the years since he became co-CEO and, eventually, sole CEO of Brookdale. On behalf of the entire Board, I want to express our sincere gratitude for Bill's dedicated service to our shareholders, our associates and our residents."
Mr. Sheriff added, "I have worked closely with Andy for more than 25 years, and I have tremendous confidence in his business expertise, his healthcare and real estate experience, his values and his integrity. Over the last six years, Andy has been a key executive officer, driving Brookdale's growth and success through a broad set of both strategic and operational responsibilities that gave him a comprehensive understanding of the Company's operations, challenges and opportunities. He has continuously demonstrated his strong judgment and management capabilities through his diverse and substantial contributions, including effecting major transactions that factored into the Company's historic growth. Andy is absolutely the right person to lead the Company and our associates forward to ensure that our residents and their families continue to receive outstanding service and to maximize Brookdale's shareholder value."