People on the Move – Bruce R. “Rick” Grindrod is Named CEO of Erickson Retirement Communities

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CATONSVILLE, MD (December 16, 2008) – John Erickson, chairman of Erickson Retirement Communities, today announced that he has named Bruce R. “Rick” Grindrod to the position of chief executive officer of the company. Grindrod will strategically guide the company to deal effectively with today’s economic conditions even as it looks toward future growth long-term.

“Rick is the right leader for this point in our company’s history,” said Erickson, adding that Grindrod has “exceptional experience required to shift our focus to the fundamentals of our business, providing the hallmark services to our residents and communities that are intrinsic to the Erickson brand. Rick and I have worked together for nearly 25 years, venturing into unknown territories, dealing with aggressive growth, and stabilizing our business operations, yet always keeping our residents and their needs as our number one priority.”      

Grindrod served most recently as president of Erickson developing enterprises. In this capacity, he led new business opportunities for Erickson Retirement Communities, including the Erickson School at UMBC, as well as John Erickson’s major philanthropic initiatives through the Erickson Foundation. He also served as president of Erickson Health ® and Operations, leading operations management and growth of 19 communities with more than 20,000 residents and 10,000 employees. He also led the largest geriatric physician practice and the only Medicare C demonstration project within continuing care retirement communities. He began his career in management administration in the flagship community, Charlestown, and progressively moved through community management to his most recent role.

Grindrod said he is excited about the future of the company. “Erickson’s priority is to build and maintain communities where seniors can live a quality life to the fullest. Our long-term goals have not changed: our mission is to bring this lifestyle to as many seniors as possible, continuing to build out more communities in more cities as we grow,” he said.

“People recognize that Erickson is a smart financial decision in these economic times for the security and assurance we give in our 100 percent refundable deposit and the predictability we provide in fixed monthly service fees,” he added. “We are balancing the need to be fiscally responsible with the greater need to bring our better living opportunities to as many people who can take advantage of it.”

Grindrod holds an MBA in finance from Loyola College, Baltimore, Md., and a bachelor’s degree from Bucknell University.

About Erickson: Erickson Retirement Communities is one of the leading national developers of full-service retirement communities.  Headquartered near Baltimore, Md., Erickson has built an innovative network of 19 communities that combine a maintenance-free active lifestyle with an ever-expanding host of amenities, social activities, and wellness and medical centers, proven to improve both physical and mental health. Erickson was named by FORTUNE as being one of the Top 100 “2008 Best Companies to Work For®.” The Erickson enterprise also encompasses the Retirement Living TV network; NorthBay environmental education center; the Erickson Health system; Erickson Advantage health plan; Renaissance Gardens assisted living, long-term nursing care, and short-term rehabilitation residences; The Erickson School at University of Maryland, Baltimore County (UMBC); The Erickson Foundation; and Point Lookout conference center.



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