Floyd takes Beverly helm.
BEVERLY ENTERPRISES' BOARD OF DIRECTORS has appointed William R. Floyd as chief executive officer. Floyd replaces David R. Banks, 64, who will serve as non-executive chairman of the board. Banks plans to retire from Beverly at the end of this year following 30 years of service, 12 of them as CEO. The change of leadership became effective Feb. 1.
"When I recruited Bill Floyd last year as Beverly's president, I wanted a results-oriented leader who would bring us fresh ideas, a sharp focus on accountability, and new business insights that extended beyond traditional thinking in the long term care industry," Banks said in a statement. "Bill's performance has exceeded my expectations, and I was very pleased to recommend this succession plan to our board."
Floyd, 56, will continue in his roles as Beverly's president and COO, positions he has held since joining the Fort Smith, Ark.-based company in April 2000. He previously held senior management positions with PepsiCo, Pillsbury, and Gillette. Most recently, Floyd was CEO of Choice Hotels International, the world's second-largest hotel franchiser.
"Knowing Mr. Floyd's background, I find a very serendipitous marriage of hospitality and the more traditional nursing home approach to care delivery," says Paul R. Willging, Ph.D., director of the National Investment Center (NIC) Senior Housing & Care Program at Baltimore's Johns Hopkins University. "Much of what has made the large hotel chains work is the focus on the customer and quality management. For nursing facilities to survive, they've got to do exactly that--become much more customer focused."
Strategic growth plan
According to Floyd, Beverly has been building its financial and operating strengths while addressing trouble spots that have hampered the company's performance. "Beverly is in a position of relative financial strength and stability today, in an industry where most other major companies are bankrupt," he was quoted as saying.
High on Floyd's list of priorities is implementing Beverly's new three-year strategic growth plan.
"Part and parcel of our strategic growth plan and our reorganization is centering our company on core processes--those things that are really fundamental to operating our business," says Daniel Springer, a Beverly spokesman. "The details of what those core processes are and how we have reorganized the company will be made more public in the coming weeks."
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|Publication:||Contemporary Long Term Care|
|Date:||Mar 1, 2001|
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