AdCare Health Systems, Inc., a recognized innovator in senior living and health care facility management, has appointed company director, Boyd P. Gentry, as co-chief executive officer effective today.
Gentry will share the new co-CEO position with Gary Wade, AdCares’s co-founder, president and chief executive officer, who is planning to retire from his management roles in mid-2011. Upon Wade’s retirement, Gentry will become president and chief executive officer, and Wade will continue as a member of the company’s board of directors.
“We are tremendously grateful for the extraordinary leadership Gary has provided AdCare since he co-founded our company some 21 years ago,” commented David A. Tenwick, AdCare’s chairman. “He laid the foundation upon which we dramatically increased the size of our business in 2010, and we look forward to his continued contribution as a company director.”
“Boyd’s appointment as co-chief executive officer will provide an important continuity of highly experienced leadership during this transitional period,” added Tenwick. “We believe Boyd’s deep financial and healthcare management experience will sustain our reputation for providing exceptional operational efficiency and the highest-quality of living environments, which Gary was instrumental in establishing for AdCare.”
Gentry is a seasoned healthcare executive who brings more than 25 years of experience to AdCare. He has served as an independent member of AdCare’s board of directors and as a member of its audit committee since January 2010.
Gentry is currently president of Mariner Health Care, Inc., a long-term health care provider where he has served in various capacities since 1995, including executive vice president and CFO. Prior to going private in 2004, Mariner was a NYSE-traded company with annual revenues in excess of $1.5 billion. While at Mariner, Gentry played key roles in Mariner’s acquisition and divestiture pursuits as well as financing and capital markets activities. Gentry earlier served as a senior vice president of corporate finance at NationsBank, a predecessor to Bank of America. Gentry received his Bachelors of Arts in Economics from Knox College in Galesburg, Illinois, and earned his MBA in Finance and Accounting from Southern Methodist University in Dallas, Texas.
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