Ryman Healthcare CEO Gordon MacLeod to resign

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Gordon MacLeod, who has worked for Ryman Healthcare for 15 years, including seven years as Chief Financial Officer, is resigning from the position of CEO after four years in the role.

Mr MacLeod made the announcement as Ryman Healthcare’s full-year net profit for the year ended March rose 60% to NZ$423.1 million, while revenue rose nearly 54% to NZ$872.6 million.

The result included a NZ$416.8 million gain in the fair value of its portfolio, which was nearly triple that of the gain reported 12 months earlier. However, the underlying profit dropped 7% to NZ$224.4 million.

“We bore the brunt of the Covid-19 lockdowns in the first half. In the final quarter, we achieved record new sales and resales, which was no mean feat after a tough year,” said Mr MacLeod, who has overseen the New Zealand operator’s rapid expansion in Australia.

“We have had record cash collections of $1.18 billion during the year to support our largest ever building programme.”

Ryman Healthcare met its long-term target of having five villages open in Victoria, Australia, by the end of 2020.

“Working at this level is all consuming and it means a lot of other things in your life can get neglected. I’ve just turned 50 which gave me time to reflect. I’ll be spending more time with my family and doing a wider variety of activities,” said Mr MacLeod.

“I know I leave with the company in a great position to grow – it has huge potential and a wonderful purpose – to care for older people.”

Ryman board chair Dr David Kerr said Gordon had played a key role in Ryman’s success.

“Gordy has been a huge contributor over many years. He’s led Ryman superbly during some difficult times and we’ll truly miss him,” said Dr Kerr.

“A talisman of his leadership has been his extraordinary ability to relate very positively to all the many stakeholders in the company. He has shown himself to be an absolutely authentic leader.”