Brookdale Senior Living's newest board member shouldn't take too long to get up to speed on the company's strategies and intricacies.
Andy Smith, CEO of the Brentwood-based senior living center operator, was named a director of the company Tuesday. The move was in the cards since Fortress Investment Group late last month said it would sell its remaining Brookdale shares, a decision that meant Fortress-affiliated directors Wes Edens and Randal Nardone would step down from the board. Smith duly filled the void created by Edens courtesy of his contract with Brookdale, which called for him to take a board seat at the earlier opportunity.
As a Class I director, Smith will have to be re-elected at Brookdale's next annual meeting. The company also has said it plans to the second vacant board seat with Emeritus President and CEO Granger Cobb. Shareholders will vote on Brookdale's planned acquisition of Emeritus July 10.