Brookdale Senior Living Appoints Joshua Hausman to Enhance Board Governance and Strategy

Brookdale Senior Living Strengthens Board with Strategic Appointment

Brookdale Senior Living Inc. announces the appointment of Joshua Hausman as an independent director, effective April 24, 2025. Hausman, who serves as the Managing Partner at MHJ Capital Partners, brings over 20 years of experience in private market investments, particularly within the healthcare sector. His expertise encompasses skilled nursing and behavioral health facilities, areas that are crucial to Brookdale's operational framework. Denise W. Warren, the Interim CEO and Chairman of Brookdale, expresses optimism about Hausman's potential impact on the company's strategies aimed at enhancing occupancy rates, revenue per available room (RevPAR), and adjusted EBITDA growth. These goals are pivotal for Brookdale as it seeks to optimize its financial performance and create long-term shareholder value.

The strategic addition of Hausman comes during a period of board renewal for Brookdale. Following Hausman's onboarding, the Board is expected to average less than four years in tenure after the 2025 Annual Meeting, a significant shift that emphasizes a commitment to fresh perspectives. With eight directors, seven of whom are independent, Brookdale aims to strengthen its governance structure, particularly in light of former director Frank M. Bumstead's decision not to seek re-election. This transformation aligns with the company’s focus on engaging with shareholders and ensuring that the Board is composed of qualified and experienced directors who can navigate the complexities of the senior living industry.

Moreover, the Board is actively evaluating potential governance enhancements, including revisions to the performance-based long-term incentive awards program for executives. This initiative signals Brookdale's dedication to aligning executive performance with shareholder interests and operational success. Hausman’s previous leadership roles, including his tenure at Onex Corporation and his advisory experience in healthcare investment banking, position him well to contribute to these governance discussions. His current roles on the Boards of Newport Healthcare and SCP Health further reinforce his deep understanding of the healthcare investment landscape.

In summary, Brookdale Senior Living's recent board appointment signifies a strategic move towards enhancing its governance and operational effectiveness in the senior living sector. The ongoing efforts to refresh the Board and improve governance practices demonstrate the company's commitment to adapting to the evolving challenges of the industry while prioritizing shareholder value.