The Pennant Group Inc. (Nasdaq: PNTG) has announced a leadership change.
Daniel Walker, the company’s CEO, will step away from his role and be succeeded by the current president of Pennant, Brent Guerisoli. Walker will continue to serve as the chair of the board of directors.
Walker has served as the company’s CEO since it spun off from The Ensign Group (Nasdaq: ENSG) in 2019. Guerisoli will assume the position on Aug. 1.
“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 said in a statement. “It’s been my honor and privilege to serve as the CEO of Pennant since our spin-off in 2019 and before that as president of our former parent company’s home health and hospice portfolio company since its first acquisition over a decade ago.”
The Eagle, Idaho-based Pennant Group is a holding company of independent operating subsidiaries, with a network that includes 89 home health and hospice agencies and 48 senior living communities located throughout 14 states.
“Since those early days, we’ve grown to serve patients in 14 states across dozens of operations, built a deep bench of leaders throughout the organization, successfully completed a spin-off to become a stand-alone public company and navigated the challenges of a pandemic,” Walker continued. “I’m confident Brent is the right leader at the right time for Pennant and that this leadership transition will position us for success in our next chapter.”
On Guerisoli’s end, he has been with the larger organization since 2012. The company said that he has played a key effort in its growth efforts in several states, and also a key role in its “overall leadership recruiting, development and training.”
He is also credited with spearheading the “turnaround” of the company’s senior living segment.
“Brent has been an incredible partner to me over the last decade as we’ve worked together on countless operational opportunities and challenges,” Walker said. “His deep understanding of and commitment to our mission and culture, his track record of success across various leadership positions he’s held in the organization and the trust of partners within and without the organization make him well-qualified to steward Pennant as his CEO going forward .”
In addition to that change, the Pennant Group also announced that John Gochnour, the company’s COO, will also be appointed president.
“I remain deeply committed to Pennant and am more optimistic than ever about our long-term success. I look forward to continuing to support leaders across the organization as chairman of the board,” Walker said.