EMERITUS CORPORATION ANNOUNCES APPOINTMENT OF CHIEF FINANCIAL OFFICER - Press Releases

Printer-Friendly Version of This Page

Press Release
FOR IMMEDIATE RELEASE
Contact Information:

Contact: Investor Relations

(206) 298-2909

 

Media Contact:

Liz Brady, ICR

646-277-1226

Liz.Brady@icrinc.com


EMERITUS CORPORATION ANNOUNCES APPOINTMENT OF CHIEF FINANCIAL OFFICER

Seattle, WA
(December 3, 2009)

Emeritus Corporation (NYSE: ESC), a national provider of assisted living and Alzheimer’s and related dementia care services to senior citizens, today announced the appointment of Mr. Robert Bateman to the position of Executive Vice President – Finance and Chief Financial Officer effective December 21, 2009.

Mr. Bateman has significant experience as a senior financial executive and over the past 13 years has served as the Chief Financial Officer for such companies as VisionGate, Inc., Fisher Communications, Inc. (NASDAQ: FSCI), and two other NASDAQ-listed companies - Applied Microsystems Corporation and NeoPath, Inc. Mr. Bateman began his career at Ernst & Young LLP in 1987 and is a graduate of Brigham Young University with M.S. and B.S. degrees in Accounting. He also holds both CPA and CMA certifications.

Mr. Bateman will replace Mr. Raymond Brandstrom, one of the original founders of Emeritus. Mr. Brandstrom will continue his employment with the Company in a new capacity as an advisor and Vice Chairman of the Board of Directors.

Mr. Granger Cobb, President and Co-CEO of Emeritus, stated, “We are extremely pleased to have Rob join Emeritus. We believe his background and solid financial experience will further strengthen the Company’s finance group and add to our capabilities going forward. We would also like to thank Ray Brandstrom for his many years of dedication to the Company and look forward to his continued contributions in his new role.”

About Emeritus Senior Living

Emeritus Corporation is a national provider of assisted living and Alzheimer's and related dementia care services to seniors. Emeritus is one of the largest and most experienced operators of freestanding assisted living communities located throughout the United States. These communities provide a residential housing alternative for senior citizens who need assistance with the activities of daily living, with an emphasis on personal care services, which provides support to the residents in the aging process. Emeritus currently operates 309 communities in 36 states representing capacity for approximately 27,200 units and approximately 32,400 residents. Our common stock is traded on the New York Stock Exchange under the symbol ESC, and our home page can be found on the Internet at www.emeritus.com.

Forward Looking Statements

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: A number of the matters and subject areas discussed in this report that are not historical or current facts deal with potential future circumstances, operations, and prospects. The discussion of such matters and subject areas is qualified by the inherent risks and uncertainties surrounding future expectations generally, and also may materially differ from our actual future experience as a result of such factors as: the effects of competition and economic conditions on the occupancy levels in our communities; our ability under current market conditions to maintain and increase our resident charges in accordance with our rate enhancement programs without adversely affecting occupancy levels; increases in interest costs as a result of re-financings; our ability to control community operation expenses, including insurance and utility costs, without adversely affecting the level of occupancy and the level of resident charges; our ability to generate cash flow sufficient to service our debt and other fixed payment requirements; our ability to find sources of financing and capital on satisfactory terms to meet our cash requirements to the extent that they are not met by operation; and uncertainties related to professional liability claims. We have attempted to identify, in context, certain of the factors that we currently believe may cause actual future experience and results to differ from our current expectations regarding the relevant matter or subject area. These and other risks and uncertainties are detailed in our reports filed with the Securities and Exchange Commission, including "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2008.


More Press Releases


Subscribe to the Emeritus Senior Living Press Releases RSS Feed

Subscribe to the Emeritus Senior Living Press Releases RSS Feed.