Robert Adams to Retire as CEO of NHC, Remain as ChairmanPosted 05/04/2016
MURFREESBORO, Tenn. -- National HealthCare Corporation (NYSE MKT: NHC), the nation's oldest publicly traded senior health care company, today announced that Robert Adams plans to retire as Chief Executive Officer, effective December 31, 2016. Mr. Adams will remain as non-executive Chairman of the Board following his retirement. The Board of Directors plans to develop a transition plan and will initiate a search of internal and external candidates for Mr. Adams' replacement soon. Mr. Adams has served as the Company's CEO since 2004 and has been with NHC for over 40 years.
Richard F. LaRoche, Jr., Chairman of the Audit Committee stated, "The entire Board expresses its appreciation to Robert for his many years of service and significant contributions to NHC." Mr. LaRoche also stated, "The Board is focused on identifying the right candidate to lead NHC into the future and delivering great value to our stockholders. We are fortunate to have Robert available to assist in the leadership transition and welcome his perspective and experience in operations and the senior health care industry."
"My decision to retire has not been an easy one, but I believe that it is time to consider reducing my role in the day-to-day activities of the Company," said Mr. Adams. "I will remain significantly involved with NHC as the Chairman of the Board and will be involved in the transition plan to ensure the success of the future leadership of the Company." View as PDF
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