After seven years in the CEO role Gary Barnier has given notice of his resignation with his intended departure date being next March. The recruitment of a new CEO is commencing immediately.
He is pursuing other interests in the healthcare sector.
Opal was originally the Domain Principal Group owned by AMP Capital Investors. In 2013 AMP sold 47.6% to Asian tycoon Goh Geok Khim’s Singapore-listed GK Goh investment company. AMP is said to hold the same 47.6% and Barnier (according to the AFR) the balance od 4.8%.
The company, with 72 aged care facilities, is valued at close to $1 billion and has $900 million worth of aged care facilities currently in development.
Barnier has been a significant leader in the aged care sector. He is a member of the:
- National Institute for Dementia Research
- Aged Care Sector Committee
- Aged Care Financing Authority
A passionate individual and hands-on executive, he has not been without controversy, being one of the few executives prepared to appear in the media.
His greatest challenge was the infamous 2011 Quakers Hill fire where nurse Roger Dean set several fires in the facility to hide his theft of drugs, resulting in 11 resident deaths.
Barnier led the company from the front through to the coroner’s enquiry and the full rebuilding of the facility, rather than simple closure.