Ryman Group CEO announces plans to stand down

ADMIN

Fri, May 21 2021 08:30 am

MEDIA RELEASE May 21, 2021

Ryman Group CEO Gordon MacLeod announces plans to stand down

Ryman Healthcare Group Chief Executive Officer (CEO) Gordon MacLeod has announced he will be leaving the company after 15 years in senior roles.

Gordon joined Ryman as Chief Financial Officer (CFO) in January 2007, was promoted to Deputy Chief Executive at the end of 2014, and took over as CEO in June 2017.

He has led Ryman as it navigated the COVID crisis and overseen its rapid expansion in Australia, where Ryman has another six villages in the pipeline.

Gordon is fully committed to remain as Group CEO until a replacement has joined the company.

“It’s been my privilege to have this role, and I’d like to thank all our incredible team and residents for all their support over the years,’’ Gordon said.

“Working at this level is all consuming and it means a lot of other things in your life can get neglected. I’ve just turned 50 which gave me time to reflect. I’ll be spending more time with my family and doing a wider variety of activities."

“I know I leave with the company in a great position to grow – it has huge potential and a wonderful purpose – to care for older people."

Ryman board chair Dr David Kerr said Gordon had played a key role in Ryman’s success.

During his time as CEO Ryman has opened 10 new villages and met its target of opening five villages in Victoria by the end of 2020. Ryman’s market capitalisation grew from $4.2 billion to $7.2 billion, and shareholders have received dividends of $448.5 million over his tenure as CEO.

“Gordy has been a huge contributor over many years. He’s led Ryman superbly during some difficult times and we’ll truly miss him.

“A talisman of his leadership has been his extraordinary ability to relate very positively to all the many stakeholders in the company. He has shown himself to be an absolutely authentic leader.

“He leaves the company in great shape with a strong executive team in place on both sides of the Tasman.

“I’d like to thank him on behalf of the board and everyone at Ryman for all his work. The board is also very grateful for his commitment to continue in the role for as long as it takes to find the right person."

Dr Kerr said Ryman would be conducting an international search and will update shareholders as soon as an appointment is made.

About Ryman:
Ryman Healthcare was founded in Christchurch in 1984 and owns and operates 41 retirement villages in New Zealand and Australia. Ryman villages are home to 12,500 residents, and the company employs 6,100 staff.

Contacts:
For media information or images contact David King, Corporate Affairs Manager, on 021 499 602 (+64 21 499 602) or email [email protected]
For investor relations information contact Michelle Perkins, Investor Relations Manager, on 027 222 9684 (+64 27 222 9684) or email [email protected]