AlerisLife Announces the Appointment of Philip Benjamson as a Senior Vice President and Chief Operating Officer

Rhea-AI Summary

AlerisLife Inc. (Nasdaq: ALR) announced the appointment of Philip Benjamson as Senior Vice President and Chief Operating Officer, effective October 17, 2022. With over 25 years in the senior living and hospitality sectors, Benjamson previously held leadership roles at Trinity Health Senior Communities and Resort Lifestyle Communities. CEO Jeff Leer expressed confidence in Benjamson's ability to enhance operations and support the company's restructuring plan aimed at improving business performance.

Positive

• Appointment of Philip Benjamson expected to strengthen leadership.
• Benjamson brings over 25 years of industry experience, likely to improve operational efficiency.
• Focused on implementing a restructuring plan to enhance operating results.

Negative

• Potential challenges in timely execution of the restructuring plan.
• Uncertainty whether Benjamson's impact will meet operational improvement expectations.

NEWTON, Mass.--(BUSINESS WIRE)-- AlerisLife Inc. (Nasdaq: ALR) today announced that Philip Benjamson has been appointed as a Senior Vice President and Chief Operating Officer, effective October 17, 2022.

Mr. Benjamson has over 25 years of leadership experience in the senior living, hospitality and multifamily industries, and most recently served as Vice President of Senior Housing Operations for Trinity Health Senior Communities. Previously, Mr. Benjamson was the Chief Operating Officer at Resort Lifestyle Communities from 2018 to 2021 and the Chief Operating Officer at Blake Management Group from 2016 to 2018.

“We are excited to round out our executive team with the addition of Philip,” said Jeff Leer, President and Chief Executive Officer of AlerisLife. “He has deep senior living industry knowledge and experience and brings an impressive track record of strategic planning and execution that has resulted in sustained operational excellence. We expect he will have an immediate impact on improving our operations. We are excited to draw on Philip’s expertise as we continue to implement our restructuring plan to improve our operating results.”

About AlerisLife (Nasdaq: ALR):

AlerisLife enriches and inspires the lives of its older adult customers across the United States by delivering an exceptional and enhanced resident experience to senior living and active adult residents, while also offering lifestyle services to the younger “choice-based” consumer. The Company is headquartered in Newton, Massachusetts. For more information, visit www.alerislife.com.

WARNING REGARDING FORWARD-LOOKING STATEMENTS

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever ALR uses words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “will,” “may” and negatives or derivatives of these or similar expressions, ALR is making forward-looking statements. These forward-looking statements are based upon ALR’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by ALR’s forward-looking statements as a result of various factors. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond ALR's control. For example:

• Mr. Leer states that ALR will continue to implement its restructuring plan to improve its operating results and ALR expects Mr. Benjamson to have an immediate impact on improving ALR’s operations. However, ALR may not be able to execute its restructuring in a timely manner or at all or may change its current plans in the future, and the restructuring of ALR and Mr. Benjamson’s performance may not improve ALR’s operating results as anticipated.

The information contained in ALR’s filings with the Securities and Exchange Commission, or SEC, including under “Risk Factors” in ALR’s periodic reports, or incorporated therein, identifies other important factors that could cause ALR’s actual results to differ materially from those stated in or implied by ALR’s forward-looking statements. ALR’s filings with the SEC are available on the SEC's website at www.sec.gov.

You should not place undue reliance upon forward-looking statements.

Except as required by law, ALR does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221014005486/en/

Michael Kodesch, Director, Investor Relations

(617) 796-8234

Source: AlerisLife

FAQ

Who is the new COO of AlerisLife Inc.?

Philip Benjamson has been appointed as the Senior Vice President and Chief Operating Officer of AlerisLife Inc.

When did Philip Benjamson start as COO for AlerisLife?

Philip Benjamson's appointment as COO is effective October 17, 2022.

What experience does Philip Benjamson have?

Benjamson has over 25 years of leadership experience in the senior living, hospitality, and multifamily industries.

What are the expectations for Philip Benjamson in his new role?

AlerisLife expects Benjamson to have an immediate impact on improving operations as part of their restructuring plan.

What restructuring plans does AlerisLife have?

AlerisLife aims to improve operating results through a restructuring plan, which Philip Benjamson will help implement.