MCLEAN, Va., March 20 /PRNewswire-FirstCall/ -- Sunrise Senior Living, Inc. (NYSE: SRZ) today announced the appointment of Mark S. Ordan as Chief Investment and Administrative Officer, effective March 19, 2008.
Prior to joining Sunrise, Mr. Ordan was the Chief Executive Officer and a Director of The Mills Corporation, where he oversaw the eventual sale of The Mills to Simon Property Group and Farallon in May 2007. Previously, he founded and was Chief Executive Officer of Fresh Fields Markets, which was later sold to Whole Foods Markets, and also served as Chief Executive Officer for Balduccis, a specialty grocery store. Mr. Ordan also served on the board of Federal Realty Investment Trust for ten years, a New York Stock Exchange listed REIT, for which he served as non-executive Chairman for five years. He began his career after business school in the equities division of Goldman Sachs. Mr. Ordan is a graduate of Vassar College and received his master's of business administration from Harvard Business School.
"We're delighted to have someone of Mark's caliber and experience join the Sunrise team. His strong operations, governance and capital markets background will further support our continued growth," said Paul Klaassen, Founder and Chief Executive Officer for Sunrise.
"I am excited to join Paul and the entire Sunrise team who have built an extraordinary company that leads a rapidly growing industry. Sunrise's active development pipeline and pioneering senior living services are like no other, and I look forward to contributing to the company's mission of championing quality of life," said Mr. Ordan.
About Sunrise Senior Living
Sunrise Senior Living, a McLean, Va.-based company, employs approximately 40,000 people. As of December 31, 2007, Sunrise operated 457 communities in the United States, Canada, Germany and the United Kingdom, with a combined capacity for approximately 54,000 residents. As of December 31, 2007, Sunrise also had 45 communities under construction in these countries with a combined capacity for 5,800 additional residents. Sunrise offers a full range of personalized senior living services, including independent living, assisted living, care for individuals with Alzheimer's and other forms of memory loss, as well as nursing, rehabilitative and hospice care. Sunrise's senior living services are delivered by staff trained to encourage the independence, preserve the dignity, enable freedom of choice and protect the privacy of residents. To learn more about Sunrise, please visit http://www.sunriseseniorliving.com.
Certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Sunrise believes the expectations reflected in such forward- looking statements are based on reasonable assumptions, there can be no assurances that its expectations will be realized. Sunrise's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including, but not limited to, completion of the Company's restatement of its historical financial statements; the length of time needed for Sunrise to complete the restatement and for Ernst & Young LLP to complete its audit procedures for any reason, including the detection of new errors or adjustments; the time required for the Company to prepare and file its 2006 Form 10-K, 2007 Form 10-K, Form 10-Q for the quarter ending March 31, 2008 and Form 10-Qs for the first three quarters of 2007 and for Ernst & Young to complete its work on its audits of the 2006 and 2007 financial statements and its reviews of the Form 10-Qs; any suspension or delisting of the Company's stock from trading on the NYSE; the Company's ability to remediate material weaknesses in internal controls over financial reporting; the outcome of the SEC's investigation; the outcomes of pending putative class action and derivative litigation; the outcome of the lawsuit filed by the Company's former CFO; the outcome of the Trinity OIG investigation and qui tam proceeding; the outcome of the IRS audit of the Company's tax returns for the tax years ended December 31, 2005 and 2006, and employment tax returns for 2004, 2005 and 2006; the outcome of the exploration of strategic alternatives; the Company's ability to comply with the terms of the amendment of its bank credit facility or to obtain a further extension of the period for providing the lenders with required financial information; development and construction risks and the Company's ability to complete those projects currently under construction; acquisition risks; licensing risks; business conditions; competition; changes in interest rates; the Company's ability to manage its expenses; market factors that could affect the value of the Company's properties; the risks of downturns in general economic conditions; availability of financing for development and acquisitions; and other risks detailed in the Company's latest annual report on Form 10-K filed with the SEC. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
|SOURCE Sunrise Senior Living, Inc.|
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