- Push-out Score determined
- After nine years in the position
- Praise for Stapley
- Dave Sedgwick taking over
- Stapley kept it short and said 50 words
(exechange) — San Clemente, California, December 10, 2021 — Greg Stapley, chief executive of CareTrust, leaves. As announced by CareTrust REIT Inc. in a news release and in a regulatory filing published on Friday, December 10, 2021, Gregory K. (Greg) Stapley leaves his post as chief executive officer at the healthcare REIT, after nine years in the role, effective January 1, 2022.
Greg Stapley’s duties as CEO will be taken over by David M. (Dave) Sedgwick, currently President and Chief Operating Officer at CareTrust REIT Inc.
Sedgwick is Stapley’s brother-in-law.
The Board also announced that Diana M. Laing has been appointed as Lead Independent Director.
“Three-year, full-time volunteer assignment for The Church of Jesus Christ of Latter-day Saints”
Greg Stapley’s departure from the CEO post is explained as follows. CareTrust said: “Mr. Sedgwick will succeed founding Chairman and CEO Greg Stapley, who will continue to serve as CareTrust’s Executive Chairman during an approximately six-month transition period, following which he and his wife Deborah will commence a three-year, full-time volunteer assignment for The Church of Jesus Christ of Latter-day Saints.”
“Resignation”
CareTrust said: “On December 9, 2021, Greg Stapley notified CareTrust REIT, Inc. (the “Company”) of his resignation as Chief Executive Officer (“CEO”) of the Company, effective January 1, 2022.”
Share price increase since December 2016
The announcement follows an increase in CareTrust REIT Inc.’s share price of 59% since December 2016.
In the position of CEO since 2013
Greg Stapley became CEO of the Company in 2013.
Gregory K. Stapley has served as a member of the Company’s Board of Directors since CareTrust REIT’s formation in 2013.
Stapley is the Company’s Chairman and Chief Executive Officer.
He has served as Chief Executive Officer since the Company’s inception in 2013 and was elected Chairman in 2014.
He previously served as the Company’s President from the Company’s inception in 2013 until February 2021.
Prior to founding CareTrust REIT, he served as Executive Vice President and Secretary of The Ensign Group, Inc. (“Ensign”), where he was instrumental in assembling the real estate portfolio that became CareTrust REIT’s initial asset base at the time CareTrust REIT became an independent company in 2014.
A co-founder of Ensign, he also served as Ensign’s Vice President, General Counsel and Assistant Secretary beginning shortly after Ensign’s founding in 1999.
Stapley previously served as General Counsel for the Sedgwick Companies, an Orange County-based manufacturer, wholesaler and retailer with 192 retail outlets across the United States.
Prior to that, Stapley was an equity member of the Phoenix law firm of Jennings, Strouss & Salmon PLC, where his practice emphasized real estate transactions and government relations.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Greg Stapley’s move on a scale of 0 to 10.
exechange reached out to CareTrust and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 50.2021 ($).