- Push-out Score determined
- After less than three years in the position
- Praise and thanks for Walker
- Brent Guerisoli taking over
- Walker will remain as chairman at Pennant
- Walker made a lengthy statement and said 382 words
(exechange) — Eagle, Idaho, June 7, 2022 — Danny Walker, chief executive of Pennant, leaves his position. As announced by Pennant Group Inc. in a news release and in a regulatory filing published on Tuesday, June 7, 2022, Daniel H (Danny) Walker leaves his post as chief executive officer at the parent company of operating subsidiaries that provide home health, hospice and senior living services, after less than three years in the role, effective August 1, 2022.
Danny Walker’s duties as CEO will be taken over by Brent J. Guerisoli, currently President at Pennant Group Inc.
“To create space for a robust team of leaders”
Pennant did not give an explicit reason for Danny Walker’s departure from the CEO post. Walker said: “After careful reflection, I have made the decision to reduce my professional obligations in consideration of family circumstances, to pursue charitable causes unrelated to Pennant or its businesses, and to create space for a robust team of leaders that are committed to Pennant’s success and well-prepared to drive our future growth.”
Walker will remain as chairman at Pennant
“Mr. Walker will continue to serve as chairman of Pennant’s Board of Directors,” Pennant said.
“Resignation”
Pennant said: “The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of operating subsidiaries that provide home health, hospice and senior living services, announced today that its Board of Directors has appointed Brent Guerisoli, current President of Pennant, to succeed Daniel Walker as Chief Executive Officer of Pennant, effective August 1, 2022.”
Pennant further said: “On June 7, 2022, Mr. Daniel Walker notified the Board of Directors (the “Board”) of The Pennant Group, Inc. (the “Company”) of his resignation as Chief Executive Officer of the Company, effective August 1, 2022.”
Share price decline since June 2021
The announcement follows a decline in Pennant Group Inc.’s share price of 47% since June 2021.
In the position of CEO since 2019
Danny Walker became CEO of the Company in 2019.
Daniel H Walker has served as Chairman and Chief Executive Officer of the Company since its formation following the date of the Company’s Spin-Off from The Ensign Group, Inc. (“Ensign”) in 2019 (the “Spin-Off”).
Prior to joining Pennant, Walker served as the President and Chief Executive Officer of Cornerstone Healthcare, Inc., a subsidiary of Ensign (“Cornerstone”) since May 2010.
As the leader of Cornerstone and the first participant in Ensign’s new business venture program, Walker led the acquisition and operational efforts of all home health and hospice operations at Ensign, which grew from one operation in Boise, Idaho in 2010 to 63 operations across 13 states in 2019 under his leadership.
In addition to his role as President of Cornerstone, starting in 2013, Walker played key leadership and advisory roles within Ensign, including within its new business ventures group.
In this role, Walker supported the development and maturation of other new business ventures, including senior living, mobile diagnostic, clinical laboratory and urgent care.
In addition, between 2007 and 2010, Walker also played a critical role in Ensign’s initial public offering, as well as its skilled nursing and senior housing acquisitions, real estate strategy and financing, corporate governance and related initiatives.
Prior to joining Ensign, Walker was with the law firm of Lewis and Roca, LLP in Phoenix, Arizona, where he advised public and private companies on securities issues, mergers and acquisitions, and real estate and corporate transactions.
Walker is a graduate of the J. Rueben Clark Law School at Brigham Young University.
Walker is the brother-in-law of John Gochnour, who serves as the Company’s Chief Operating Officer.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Danny Walker’s move on a scale of 0 to 10.
exechange reached out to Pennant and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 24.2022 ($).