Brookdale Senior Living appoints new independent director

NASHVILLE, Tenn. - Brookdale Senior Living Inc. (NYSE:BKD), a leading operator of senior living communities with a market capitalization of $1.24 billion and annual revenues of nearly $3 billion, has announced the appointment of Joshua Hausman as an independent director to its Board of Directors, effective today. Hausman brings over two decades of experience in healthcare and private capital investing, including expertise in facilities-based and senior care services.

Denise W. Warren, Interim Chief Executive Officer and Chairman of the Board, expressed confidence in Hausman’s ability to contribute to Brookdale’s growth strategies, highlighting his extensive background in collaborating with management teams to drive operational improvements and growth.

Hausman’s appointment follows the recent addition of Mark Fioravanti to the Board and the departure of Frank M. Bumstead, who will not seek re-election at the upcoming Annual Meeting. These changes are part of a broader board refreshment initiative aimed at reducing the average director tenure to less than four years and enhancing the Board’s independence.

Prior to joining Brookdale’s Board, Hausman served as Managing Director at Onex Partners and is currently the Managing Partner at MHJ Capital Partners. His previous roles have included board positions at various healthcare services companies and an associate position in the Healthcare Investment Banking group at Banc of America Securities.

The announcement also mentioned Brookdale’s ongoing review of potential governance enhancements and revisions to its performance-based long-term incentive awards program for executives. The Company is focused on achieving profitable occupancy and revenue per available room (RevPAR) growth, as well as increasing Adjusted EBITDA and Adjusted Free Cash Flow to create shareholder value. According to InvestingPro data, the company currently operates with significant debt obligations, with a debt-to-equity ratio of 26.6, while generating EBITDA of $420.8 million in the last twelve months.

Brookdale Senior Living operates 647 communities across 41 states, serving approximately 58,000 residents as of March 31, 2025. While InvestingPro analysis indicates the stock is currently overvalued, it has shown strong momentum with a notable return over the last three months. Get access to 7 more exclusive InvestingPro Tips and comprehensive financial analysis through the Pro Research Report, available with an InvestingPro subscription. The Company’s stock is publicly traded on the New York Stock Exchange.

This news is based on a press release statement from Brookdale Senior Living Inc.

In other recent news, Brookdale Senior Living reported preliminary results for the first quarter of 2025, surpassing both company and analyst expectations with positive Adjusted EBITDA and Adjusted Free Cash Flow. Additionally, the company anticipates that its revenue per available room (RevPAR) will exceed internal forecasts. Brookdale has also seen a notable increase in its occupancy rates, reaching a five-year high in March with a weighted average occupancy of 79.5%. The month-end occupancy rate for March climbed to 80.9%, reflecting strong performance beyond typical seasonal trends.

Furthermore, Brookdale announced the early settlement of its prepaid stock purchase contracts, which are part of its 7.00% tangible equity units. This settlement, completed on March 31, 2025, involved the issuance of common stock to contract holders. The company is also undergoing a leadership transition, appointing Denise W. Warren as Interim CEO while searching for a permanent leader following the departure of Lucinda M. Baier. Brookdale has welcomed Mark Fioravanti to its Board as a new independent director, with Frank M. Bumstead stepping down in 2025.

These developments come as Brookdale reviews potential enhancements to its corporate governance policies, focusing on director tenure and performance-based long-term incentives. The company remains committed to delivering value to shareholders and capitalizing on demographic trends. Brookdale plans to release its full first-quarter financial results on May 6, 2025.

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