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Five Star Senior Living COO Wigglesworth to Retire

Fresh off completing its transition of 107 communities to other operators, Five Star Senior Living (Nasdaq: FVE) is undergoing a leadership change.

Margaret Wigglesworth is retiring from her position as executive vice president and COO. She will continue to serve as an employee of Five Star through the end of 2021, according to a Nov. 24 Securities and Exchange Commission (SEC) filing.

Newton, Massachusetts-based Five Star named Wigglesworth as COO in Aug. 2019. Prior to joining the senior living provider, she was executive vice president of the International Council of Shopping Centers (ICSC).

In addition to overseeing operations during the Covid-19 pandemic, she helped lead Five Star through a restructuring with Senior Housing Properties Trust, a real estate investment trust now known as Diversified Healthcare Trust (Nasdaq: DHC).

Following that restructuring, Five Star and Diversified made another pivot April 2021. That’s when the companies announced that more than 100 communities would transition from Five Star other operators, allowing Five Star to focus on larger senior living communities and exit the skilled nursing business.

And the announcement of her retirement comes on the heels of Five Star completing that plan, with the transition of 107 DHC-owned communities to other operators.

Five Star now operates 140 senior living communities across 28 states, with 91% of units being either independent living or assisted living.

The company also has a large rehabilitation and wellness segment, with more than 220 Ageility clinics.

Going forward, Five Star CEO Katie Potter has said she is interested creating an even more diversified company, with home care and other potential segments complementing the senior living and Ageility businesses.

The post Five Star Senior Living COO Wigglesworth to Retire appeared first on Senior Housing News.

Source: For the full article please visit Senior Housing News

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