Sonida Enhances Executive Team and Board to Support Company Growth
10 Maggio 2024 - 10:06PM
Business Wire
Max Levy appointed Chief Investment Officer in
newly created role
Lilly H. Donohue, a long-time senior living
industry executive, to join Board of Directors
Sonida Senior Living, Inc. (“Sonida” or the “Company”) (NYSE:
SNDA), a leading owner-operator and investor in communities and
services for seniors, today announced the appointment of Max Levy
to the newly created role of Chief Investment Officer (“CIO”). In
addition, the Company also announced today that Lilly H. Donohue
will be appointed to the Board.
As CIO and a member of the executive committee, Mr. Levy, who is
transitioning to Sonida from his role as a Principal at Conversant
Capital (“Conversant”), the Company’s largest shareholder, will
leverage his deep M&A and senior living underwriting experience
to lead the overall coordination and oversight of Sonida’s already
rigorous investment process and multi-faceted sourcing strategy.
The Company’s inorganic growth strategy aims to further upgrade and
modernize its portfolio through densification to fully leverage
operating scale and efficiencies through new balance sheet
acquisitions and joint ventures. With his new role, Mr. Levy, who
has served as a Director since 2021, will step down as a member of
the Board of Directors (the “Board”), and assume his new role
effective June 1, 2024.
“Every stage in Max's career has increased his investment
management acumen and responsibility, ensuring he is extremely
well-suited for this significant role," said Brandon Ribar,
President and Chief Executive Officer. "He is an accomplished real
estate investor with extensive capital markets expertise and is
already a well-respected next-generation leader and colleague at
Sonida.”
“As Brandon and I discussed the search for a CIO to lead the
next phase of Sonida’s growth, we determined that there is no
better person than Max for this role,” said Michael Simanovsky,
Founder and Managing Partner of Conversant. “We look forward to
continuing to partner with and support Max as he executes Sonida’s
strategic plan.”
Max Levy has been a Principal at Conversant since 2020. At
Conversant, Mr. Levy leads investments across several sectors,
including healthcare real estate, in both public and private
markets. From 2015 to 2020, Mr. Levy was an Analyst at The Baupost
Group where he focused on real estate investments in North America
and Europe. During this time, Mr. Levy was responsible for sourcing
and evaluating equity and debt investments in all property types in
both private real estate and public securities. Before joining
Baupost, Mr. Levy began his career as an investment banking Analyst
for Hentschel & Company, a boutique real estate advisory firm,
where he assisted public REITs and private real estate companies on
mergers, acquisitions, and capital raising. Mr. Levy served as
Director of Sonida Senior Living since 2021 and currently serves on
the board of Crossroads Impact, a U.S.-based impact lender. He
received a B.A. in Intellectual History from the University of
Pennsylvania where he graduated summa cum laude and was elected to
Phi Beta Kappa.
Lilly H. Donohue, who is joining the Board, is currently
President and CEO of Everstory Partners (formerly StoneMor Inc.).
Ms. Donohue most recently served as the CEO of Holiday Retirement,
the largest independent senior living owner and operator in the
United States with over 300 communities in 46 states. During her
tenure at Holiday, she led the organization to become the first
senior living company to be certified as a Great Place to Work in
2018 and has been named Great Place to Work for four consecutive
years (2018-2021). Prior to Holiday, Lilly was responsible for
setting up Fortress Investment Group’s China investment office and
was the President of Fortress Investment Group China. During her
time in China, Ms. Donohue also built the leading senior living
company and home care business (Starcastle (Xingbao) Senior Living)
in Shanghai, China for Fortress Investment Group and was the CEO of
Starcastle from its inception in 2013. Before moving to China in
2011, Lilly was a managing director and member of the management
committee at Fortress Investment Group since its inception in May
1998. Prior to Fortress, Lilly started her career at BlackRock
Financial Management Inc. in May 1992 to May 1997 where she was
involved in all facets of raising capital, investing and managing
BlackRock Asset Investors, a private equity fund.
“We are pleased to welcome an industry veteran of Lilly's
caliber to the Sonida Board. I am very confident that Lilly’s track
record and extensive executive leadership experience in the senior
living sector will bring immediate, thoughtful and impactful
contributions to Sonida and its growth aspirations,” said David W.
Johnson, Chairman of the Board. “The diversity of background and
perspective she brings will be an invaluable asset in furthering
Sonida’s strategy and reinforcing its focus on delivering long-term
shareholder value.”
Lilly received a Bachelor of Science in Business Administration
from Boston University. Ms. Donohue currently serves on the Dean’s
Advisory Board of Boston University’s Questrom School of Business
and the Senior Living Management Advisory Board of University of
Central Florida’s Rosen College of Hospitality Management.
As a matter of practice, the Board of Directors regularly
evaluates its composition and considers how it can maintain the
appropriate mix of skills, qualifications and diversity of
backgrounds to best oversee the business and long-term strategy of
the Company. Following the appointment of Ms. Donohue, the Board
will comprise nine directors and will include a Conversant Capital
appointed director replacing Max Levy, pursuant to its Shareholder
Rights Agreement.
About Sonida
Dallas-based Sonida Senior Living, Inc. is a leading
owner-operator and investor in independent living, assisted living
and memory care communities and services for senior adults. The
Company provides compassionate, resident-centric services and care
as well as engaging programming operating 72 housing communities in
18 states with an aggregate capacity of approximately 8,000
residents, including 62 communities which the Company owns and 10
communities that the Company manages on behalf of third
parties.
For more information, visit www.sonidaseniorliving.com or
connect with the Company on Facebook, Twitter or LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20240510554475/en/
Investor Relations Jason Finkelstein Ignition Investor
Relations ir@sonidaliving.com
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