The growth and rivalry in the burgeoning retirement village sector has seen the boss of one of the large operators switch camp.
Oceania Healthcare announced today its chief executive Earl Gasparich had resigned while at the same time Metlifecare announced that it was employing Gasparich as its new chief executive to implement its growth strategy.
Gasparich told Oceania about his resignation on the weekend just gone. Brent Pattison, Oceania chief financial officer, has been appointed to the role of acting chief executive, effective immediately.
Making way for Gasparich is Metlifecares chief executive Glen Sowry, who is stepping down at the end of March after five years leading the company under different owners.
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Metlifecare was taken over by global investment organisation EQT in November last year after being owned and governed locally.
After EQT took over Metlifecares chief financial officer, Richard Thomson, announced he was leaving early in 2021 for the same role at Air New Zealand.
The new owners of Metlifecare said today it was a good time to implement the boards succession plan.
Metlifecare is larger than Oceania with about 5600 residents and 25 villages to Oceanias more than 3600 residents. Oceania also has a greater emphasis on aged care.
The board believes this is the right time for a transition in chief executive with the company in healthy shape and with a new and ambitious strategy which has recently been set, Paul McClintock, Metlifecares chair said.
The entire board thanks Glen for his leadership.
Metlifecare chief executive Glen Sowry is stepping down at the end of March.
Sowry said he was pleased to make the transition with Metlifecare in excellent shape.
He was looking forward to spending some time with his family before deciding on his next career move.
Gasparich was a strong replacement, McClintock said.
Earl knows the sector well, and we are confident that he brings the leadership, skill and experience needed to deliver the ongoing leadership and capability to progress Metlifecares growth strategy.
Im excited about the opportunity to lead Metlifecare under its new owner and to deliver on an ambitious growth agenda, Gasparich said.
Metlifecare is well positioned to take advantage of the sectors growth opportunities, and Im confident we will be able to achieve that.
Gasparich was chief executive of Oceania for seven years and before that chief financial officer of Qualcare, which was sold to Oceania in 2008.
He is expected to start at Metlifecare in mid-2021.