The Australian CEO has announced he will depart the NZX-listed provider at the end of September to pursue personal interests.
Mr McDonald (pictured above left) – who previously held senior positions at Stockland and ING (now Ingenia) in Australia – spearheaded the creation of Arvida in 2014, persuading 10 village operators to join together their 17 villages to list on the NZX.
Seven years later, the group has 33 communities across New Zealand with 4,750 residents and a 1,574 unit development pipeline.
“We had a vision to bring about a transformation in the delivery of aged care in New Zealand. We created and embedded a deeply passionate organisational culture focused on delivering quality customer-centric outcomes,” Mr McDonald said.
“This has delivered better outcomes for our residents and staff and significant value to our shareholders. Now is the right time to hand over to Jeremy as Arvida enters the next stage of growth.”
Arvida’s current Chief Financial Officer, Jeremy Nicoll (pictured above right), has been appointed as incoming CEO and will start in the role in October 2021.