Bruce Mackey Jr. stepped down as CEO of struggling Five Star Senior Living at the end of December after 10 years in the role.
His replacement is Five Star executive VP and general counsel Katie Potter, 42, who was set to take over on Jan. 1.
Massachusetts-based Five Star tallied a net loss of $21.6 million during the third quarter of 2018, and was at risk of being dropped from the Nasdaq. The company, which owns or operates 29 SNFs, has been low on cash, causing concerns that it might not be able to meet its operating and debt obligations.
From the January 01, 2019 Issue of McKnight's Long-Term Care News
