NEWTON, Mass.–(BUSINESS WIRE)–AlerisLife Inc. (Nasdaq: ALR) today announced that Jeff Leer has been appointed President and Chief Executive Officer. Mr. Leer had previously been appointed President and Chief Executive Officer on an interim basis. Mr. Leer will also continue to serve as Chief Financial Officer of ALR until a replacement is appointed.
ALR also announced that the healthcare consulting arm of Alvarez & Marsal (A&M) concluded a comprehensive operational review and made recommendations to the Board of Directors. The recommendations made by A&M include cost reductions, a corporate reorganization that is designed to enhance accountability and certain operational changes to support team members to ensure the delivery of high-quality experiences to residents and customers and increase occupancy at the company’s senior living communities. Further information regarding the recommendations made by A&M and the implementation of those recommendations will be discussed during ALR’s second quarter financial results call in early August.
About AlerisLife (Nasdaq: ALR):
AlerisLife enriches and inspires the lives of its older adult customers across the United States by delivering an exceptional and enhanced resident experience to senior living and active adult residents, while also offering lifestyle services to the younger “choice-based” consumer. The Company is headquartered in Newton, Massachusetts. For more information, visit www.alerislife.com.
