MISSISSAUGA, ON, Sept. 11, 2019 /CNW/ - As previously announced, Chartwell's current President and Chief Executive Officer Brent Binions will retire effective March 15, 2020. Vlad Volodarski, the current Chief Financial Officer ("CFO") and Chief Investment Officer ("CIO"), will succeed Mr. Binions as the Chief Executive Officer ("CEO"). Mr. Binions will continue to serve on Chartwell's Board of Trustees after his retirement.
Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) announced today the appointments of key Senior Executives to be effective March 16, 2020.
Karen Sullivan, Chartwell's current Chief Operating Officer ("COO") will be appointed President and COO.
Ms. Sullivan joined Chartwell in 2008 as the Senior Vice President People after a distinguished 21-year career with the Ontario Long Term Care Association, including six years as its Executive Director. In 2010 she assumed the responsibility for Chartwell's Ontario Long Term Care business and in 2012 was appointed COO.
In her capacity as President and COO, Ms. Sullivan will continue to be responsible for all aspects of operations, including oversight of Chartwell's operating platforms, customer experience, sales, property management and supply chain management departments and will report to the CEO.
Sheri Harris, Chartwell's current Chief Administrative Officer ("CAO"), will be appointed CFO.
Ms. Harris joined Chartwell in 2007 as Senior Vice President Finance and was promoted to CAO in 2013 with responsibility for strategic planning and analysis, property finance, information technology, online presence and our business project management office. She has 19 years of industry experience, including seven years in senior finance roles with Retirement Residences REIT and is a CPA, CA.
In her capacity as CFO, Ms. Harris will be responsible for all aspects of Chartwell's finance, strategic planning and analysis and information technology and will report to the CEO.
Jonathan Boulakia, in addition to his current role of Chief Legal Officer ("CLO"), will be appointed CIO.
Mr. Boulakia joined Chartwell as its General Counsel in 2008 and was promoted to CLO in 2014. Over the years, he has played a key role in a number of transformative transactions, including the $900 million acquisition of the Maestro portfolio in partnership with Welltower Inc. in 2012, and the sale of Chartwell's U.S. portfolio in 2015 for $1 billion. Currently, Mr. Boulakia is responsible for the $80 million development of Chartwell HUB, the company's new headquarters in Mississauga.
Mr. Boulakia will continue to lead Chartwell's legal team and will assume oversight of Chartwell's Real Estate Group, including development, real estate finance and acquisitions and will report to the CEO.
"I am pleased to announce the appointments of Karen, Sheri and Jonathan to their new and expanded roles," stated Vlad Volodarski. "Over the past 12 years we have developed tremendous respect for each other as colleagues and I am looking forward to many more years of working together with this team creating long-term sustainable value for all of Chartwell's stakeholders. I am delighted that Brent's extensive industry experience and the guidance and support that management currently receives from the Board will continue to be available to our team going forward."
Chartwell is an unincorporated, open-ended trust which indirectly owns and operates a complete range of seniors housing communities, from independent supportive living through assisted living to long term care. It is the largest operator in the Canadian seniors living sector with over 200 quality retirement communities in four provinces. Chartwell is committed to its vision of Making People's Lives BETTER and to providing a happier, healthier and more fulfilling life experience for its residents. For more information, visit www.chartwell.com
Chartwell's Distribution Reinvestment Plan ("DRIP") allows unitholders to have their monthly cash distributions used to purchase units without incurring commission or brokerage fees, and receive bonus units equal to 3% of their monthly cash distributions. More information can be obtained at www.chartwell.com
SOURCE Chartwell Retirement Residences
For further information: Chartwell Retirement Residences, Vlad Volodarski, Chief Financial Officer and Chief Investment Officer, Tel: (905) 501-4709, [email protected]