DALLAS–(BUSINESS WIRE)–Capital Senior Living Corporation (the “Company”) (NYSE:CSU), one of the
nation’s largest operators of senior housing communities, announces with
great sadness the loss of Keith Johannessen, President and Chief
Operating Officer and a member of the Company’s Board of Directors. Mr.
Johannessen passed away on Tuesday, December 20, 2016 following a
courageous battle with cancer.
“Keith was a tireless mentor, leader and friend who has been a part of
the Capital Senior Living family since 1993, and he will be greatly
missed,” said Lawrence A. Cohen, Chief Executive Officer of the Company.
“His empowering leadership, vision and compassion were instrumental in
the transformation of Capital Senior Living into one of the largest
owners and operators of senior living communities in the country. I had
the good fortune of working with Keith for more than 20 years and
witnessed firsthand the enormous impact he had on mentoring and
developing the finest team in our industry. We will continue his legacy
of compassionately serving and caring for our senior residents. On
behalf of our Board of Directors, executive management team and
employees, my deepest condolences go out to Keith’s family.”
Mr. Johannessen had more than 37 years of operational experience in
senior housing. He joined Capital Senior Living in 1993 as an Executive
Vice President and served as the Company’s President since 1994 and
Chief Operating Officer since 1999. He had been a member of Capital
Senior Living’s Board of Directors since 1999. Prior to joining Capital
Senior Living, Mr. Johannessen worked as Senior Manager in the health
care practice of Ernst & Young LLP and served on the State of the
Industry and Model Assisted Living Regulations Committees of the
American Seniors Housing Association.
As previously announced, Mr. Johannessen has been on medical leave and
his duties have been assigned to various executives within the Company.
About the Company
Capital Senior Living Corporation is one of the nation’s largest
operators of residential communities for senior adults. The Company’s
operating strategy is to provide value to residents by providing quality
senior housing services at reasonable prices. The Company’s communities
emphasize a continuum of care, which integrates independent living,
assisted living, and home care services, to provide residents the
opportunity to age in place. The Company operates 129 senior housing
communities in geographically concentrated regions with an aggregate
capacity of approximately 16,300 residents.
The forward-looking statements in this release are subject to certain
risks and uncertainties that could cause results to differ materially,
including, but not without limitation to, the Company’s ability to find
suitable acquisition properties at favorable terms, financing,
refinancing, community sales, licensing, business conditions, risks of
downturns in economic conditions generally, satisfaction of closing
conditions such as those pertaining to licensure, availability of
insurance at commercially reasonable rates, and changes in accounting
principles and interpretations among others, and other risks and factors
identified from time to time in our reports filed with the Securities
and Exchange Commission.
For information about Capital Senior Living, visit www.capitalsenior.com.
Capital Senior Living Corporation
Carey Hendrickson, 972-770-5600