Brookdale Senior Living (BKD) announced that the board of directors effected a CEO transition plan and appointed a new independent director, announced that a tenured director will not stand for reelection and disclosed the board’s review of potential enhancements to corporate governance policies. Brookdale’s board initiated a search for the company’s next CEO. To effect this change, the company entered into a separation agreement with Lucinda Baier under which Baier stepped down as president and CEO, effective April 13. Ms. Baier also resigned from the company’s board of directors.
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