The CEO of New Zealand’s largest retirement village operator will leave at the end of June as Parkinson’s disease continues to take its toll.
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The CEO of New Zealand’s largest retirement village operator has stepped down due to illness as Parkinson’s disease continues to take its toll on the long-serving exec.
Having joined Ryman Healthcare in 1999, Simon Challies was appointed chief executive in 2006 then managing director in 2010 – he was diagnosed with Parkinson’s the following year but continued to lead with full support of the board.
The company’s annual meeting took place last week, where Challies confirmed he would finally be stepping down after leading the firm through its 15th record profit.
“This is a demanding job, and I’ve realised this year that my health was deteriorating and it was taking too great a toll on me personally, and on my family,” he said.
“I’m a great optimist and I think having Parkinson’s has made me a better MD of a healthcare company than I otherwise might have been. It has given certainly me a degree of empathy and insight into the challenges our residents face, and it has taught me to make every day count.”
CFO Gordon MacLeod is set to take over the reins on June 30 and chairman David Kerr praised Challies succession planning efforts which have smoothed the transition.
"I'm sad to be leaving Ryman, but I'm looking forward to spending more time with my family and being able to contribute to the community in other ways,” added Challies.
Under Challies leadership, Ryman’s shares have soared 402 percent to $8.63, which adjusts for a five-for-one share split in early 2007. That compares to a 109 percent increase in the S&P/NZX 50 index over the same period.
