For-profit New Zealand retirement living and aged care organisation Ryman Healthcare has announced that group CEO Gordon MacLeod will step down after a suitable replacement has been found.

As CEO, Mr MacLeod has overseen the organisation’s rapid expansion into Australia and the opening of 10 new villages including five in Victoria, Australia.

The organisation, which is listed on the New Zealand Stock Exchange, opened its first villages in Australia in 2014, and has another six in the pipeline, all in Victoria.

Mr MacLeod, who joined Ryman Healthcare in 2007 as chief financial officer, was appointed deputy chief executive in 2014 before becoming group CEO in June 2017.

During his tenure, the size of Ryman Healthcare’s market capital has grown from $4.2 billion to $7.2 billion New Zealand Dollars and shareholders have received $448.5 million NZD in dividends.

Ryman board chair Dr David Kerr said Mr MacLeod has played a key role in the organisation’s success.

“He’s led Ryman superbly during some difficult times and we’ll truly miss him,” Dr Kerr said. “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.”

Mr MacLeod said it was a privilege to lead the organisation.

“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,” he said.

“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,” Mr MacLeod said.

Ryman Healthcare said it was conducting an international search for a new CEO.

Main image: Gordon MacLeod.

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