The Pennant Group Appoints Lynette Walbom as Chief Financial Officer
May 22 2023 - 4:05PM
The Pennant Group, Inc. (NASDAQ: PNTG), the parent company of the
Pennant group of affiliated home health, hospice and senior living
companies, today announced that its Board of Directors has
appointed Lynette Walbom as Chief Financial Officer effective May
22, 2023.
Before joining Pennant, Ms. Walbom was Vice
President of Financial Reporting & Tax for Raising Cane’s
Restaurants, LLC, a national restaurant chain operating in 35
states, which more than doubled in size—based on number of
restaurants and geographic footprint—during her tenure. At Raising
Cane’s, Ms. Walbom had broad responsibility for financial
reporting, acquisitions, tax, accounting systems, and equity
management. Prior to Raising Cane’s, Ms. Walbom was Chief Financial
Officer of a family office with investments in companies in several
industries, including financial services, computer services, real
estate development and franchising. Ms. Walbom began her 23-year
career in accounting as a public company auditor at Deloitte.
“Lynette is an exceptionally talented individual
who will have an immediate positive impact on Pennant,” said Brent
Guerisoli, Pennant’s Chief Executive Officer. “She has a track
record of building strong teams capable of supporting dynamic
growth and improving processes to drive efficiency. Lynette emerged
from a comprehensive search process as a result of her character,
competence and clear connection to our culture and unique operating
model. She comes highly recommended by members of our Board who
have worked directly with her for many years. We are confident that
Lynette will help us continue to develop a world-class finance
team, and that she will quickly earn the trust and confidence of
all stakeholders, including employees, payors, shareholders, and
others.”
“I am thrilled to be joining The Pennant Group
at such an exciting time in its history,” said Ms. Walbom. “I was
drawn to Pennant by its culture, mission and people. Pennant has a
track record of operational excellence, a strong history of growth,
and compelling opportunities ahead. I look forward to contributing
to Pennant’s future success.”
Also effective May 22, 2023, Jennifer Freeman,
Pennant’s former CFO, will assume the role of Senior Vice President
of Strategic Partnerships, where she will focus on forging and
growing partnerships with payors and other partners across the
acute and post-acute continuum. Mr. Guerisoli expressed his
excitement for Ms. Freeman’s new role: “As an increasing share of
home health and hospice reimbursement shifts to Medicare Advantage
and managed care payors, it is critical that we continue to invest
in these areas, and in value-based arrangements. Jenn’s deep
experience with payors, including over 6 years with Molina
Healthcare, is perfectly suited for this role, and is an example of
putting one of our best people on one of our biggest
opportunities.”
About Pennant:
The Pennant Group, Inc. is a holding company of
independent operating subsidiaries that provide healthcare services
through 97 home health and hospice agencies and 51 senior living
communities located throughout Arizona, California, Colorado,
Idaho, Iowa, Montana, Nevada, Oklahoma, Oregon, Texas, Utah,
Washington, Wisconsin and Wyoming. Each of these businesses is
operated by a separate, independent operating subsidiary that has
its own management, employees and assets. References herein to the
consolidated "company" and "its" assets and activities, as well as
the use of the terms "we," "us," "its" and similar verbiage, are
not meant to imply that The Pennant Group, Inc. has direct
operating assets, employees or revenue, or that any of the home
health and hospice businesses, senior living communities or the
Service Center are operated by the same entity. More information
about Pennant is available at www.pennantgroup.com.
Contact Information
The Pennant Group, Inc.(208)
506-6100ir@pennantgroup.com
SOURCE: The Pennant Group, Inc.
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