NEWTON, Mass. — Five Star Senior Living Inc. (NASDAQ: FVE), a Newton-based operator, has rebranded as AlerisLife Inc.
The company’s common shares now trade on the Nasdaq stock market under the new ticker symbol ALR.
Aleris is a Latin word meaning “to foster, nourish and develop,” signifying the company’s intent to continue fostering, developing and expanding its lifestyle services. The name change reflects the company’s organizational restructuring over the past two years and its strategic decision to continue delivering a resident experience to senior living and active adults, while also offering lifestyle services to younger, choice-based consumers.
AlerisLife expects to continue to announce new strategic relationships to further enrich its customer experience and position the company as a provider of a wide range of lifestyle services.
“With the name change to AlerisLife, we mark our expansion from primarily a senior living owner and operator to a more diversified and comprehensive partner, able to offer each of our customers choice-based services regardless of their residential location or age,” says Katie Potter, CEO of AlerisLife. “We continue to believe that the senior living industry is positioned for growth due to strong demand tailwinds in the 75 and older population, expected modest near-term residential supply growth and increasing industry optimism around a return to stabilized occupancy.”
Most recently, the company has advanced this strategic transition by growing its Ageility rehabilitation and fitness products, entering into a dining services collaboration with Compass Group and partnering with Dispatch Health to bring acute care to residents who want it.
Separately, AlerisLife also announced the appointment of Lauren Cody as chief customer officer and Michael Lopez as chief people officer.
Cody brings more than 20 years of leadership experience in customer insight, customer experience and general management at multi-billion-dollar retail restaurant companies. Most recently she served as senior vice president, chief of staff and chief customer officer at Panera Bread Co., which operates 2,200 cafes across the U.S. Previously, for more than a decade, she held executive positions focused on consumers and business strategy at McDonalds Corp. Earlier in her career she held leadership positions with Burger King, Phelps Dodge and Zenith Electronics Corp.
Lopez has more than 20 years of experience leading people and talent strategies for large, multi-unit hospitality, retail and food service brands. He most recently served as vice president of human resources for Royal Caribbean International, where he was responsible for a global workforce of 75,000 servicing more than 7 million international guests annually. Previously, he held senior human resources positions with Gap Inc., Starbucks Coffee Co. and Starwood Hotels & Resorts.
ALR’s stock price closed at $2.94 per share on Monday, Jan. 31, down from $7.23 a year earlier.