Katie Potter Resigns as CEO of AlerisLife, Jeff Leer to Serve as Interim Leader

by Jeff Shaw

NEWTON, Mass. — AlerisLife Inc. (NASDAQ: ALR), a publicly traded operator based in Newton, has named Jeff Leer as interim president and chief executive officer.

Leer has served as executive vice president, chief financial officer and treasurer of ALR since 2019 and will continue these responsibilities. He succeeds Katie Potter, who resigned as president and chief executive officer effective April 30. The reason for Potter’s resignation was not released.

ALR also announced that its board of directors has engaged the healthcare consulting group of Alvarez & Marsal (A&M) to conduct a comprehensive operational review. A&M expects to complete its review and make recommendations to the board for consideration by the end of the second quarter. The board does not intend to commence a search for a permanent CEO until A&M’s operational review is completed.

“Given the dynamic shifts in the senior living industry and the disruption caused by the COVID-19 pandemic, we believe that now is the right time to undertake an operational review to ensure that the company will deliver enhanced financial performance and value creation over the long term,” says Adam Portnoy, chair of the AlerisLife board.

Prior to joining AlerisLife in 2019, Leer held senior accounting and finance positions at The RMR Group (NASDAQ: RMR) and its affiliates, including serving as CFO and treasurer of Office Properties Income Trust (NASDAQ: OPI). Previously, he held various accounting and finance positions at several Fortune 500 companies, including Boston Scientific Corp. and Dell Technologies. Leer is also a certified public accountant.

ALR’s stock price opened at $1.89 per share on Tuesday, May 3, down from $5.25 one year prior.

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