Executive Search for a Chief Executive Officer

CASE STUDY
Executive Search for CEO for Villa Marin, one of the San Francisco Bay Area's most unique and historic CCRCs
SCENARIO
LM Hurley & Associates conducted a retained executive search for a Chief Executive Officer for one of California’s most unique not-for-profit Continuing Care Retirement Communities. Villa Marin is a highly desirable CCRC in Marin County near San Francisco Bay, CA. This stand-alone community was developed in 1985 and has 224 units and seven different floor plans. It is highly unique because it is the only resident HOA-owned and managed community in California.

This was the second CEO search we conducted for Villa Marin  so we had already had earned the board's trust and learned how to work with them 4 years earlier, when we conducted their first CEO search.
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The CFO served as interim CEO and reported to the HOA Board, which was led by its President, who also directed the search committee. The previous CEO held this position for 4 years and was recruited to a larger property.
SOLUTION
To understand their needs, we traveled to San Rafael and met with the resident board again. We met with the HOA President and the board members who comprised the search committee at their community in San Rafael, CA.

We already had a deep understanding of the board's unique requirements and the culture of CCRC residents from the previous search, so we reviewed the residents' experience with the previous CEO we placed to determine whether any requirements had changed before we formulated an executive search strategy. The goal was to identify an Executive Director or CEO who had led, or was actively leading, a community with similar care levels, number of apartments, and a budget of $18mm. Matching the Board’s vision for the new CEO, which called for:
  • An accomplished, engaging, senior living executive with high integrity, strategic vision, strong interpersonal relations skills, and outstanding leadership ability
  • Master’s Degree in a business-related field and ten-plus years of management experience
  • California Licensure in Long Term Care or Assisted Living
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RESULTS
Of the 96 prospects we contacted and screened, we interviewed 20. We narrowed the field to the three top candidates we presented to the organization. Our client selected all three individuals to interview and ultimately chose a candidate who not only met the executive search specifications but also made a strong cultural connection with the resident board.

An offer was extended and accepted within 77 days of engagement. The new CEO joined the organization with over 20 years of experience in senior housing and long-term care, including Independent Living, Assisted Living, Memory Care, Skilled Nursing, and CCRCs. She has a proven ability to handle diverse senior living communities, including CCRCs, providing operational & sales support for a $275M+ portfolio across active adult, independent living, assisted living, memory care, & skilled nursing communities.