8 Mar 2021

Metlifecare, Oceania Healthcare change leadership

11:02 am on 8 March 2021

Two of the country's bigger retirement village companies are changing leadership.

Ryman Healthcare's profit rose 8.4 percent

Photo: 123RF

Metlifecare chief executive Glen Sowry is to leave the company after five years, which has ended with new ownership and strategy.

"The board believes this is the right time for a transition in CEO with the company in healthy shape and with a new and ambitious strategy which has recently been set," company chair Paul McClintock said.

"This is a natural progression for Glen after five years in the role as CEO and a very busy 18 months involving a change of ownership and the challenges of Covid, which Glen led the company through strongly. The entire Board thanks Glen for his leadership."

Metlifecare was taken over towards the end of last year by Swedish investment firm EQT in a contentious bid.

Sowry said he would take family time as he looked at future options.

"After a very busy period, especially last year managing the business through Covid, the associated lockdowns, a new owner taking over, the company delisting and resetting the company's future growth strategy."

Sowry is being replaced by the head of a smaller competitor, Earl Gasparich of Oceania Healthcare.

"Earl knows the sector well and we are confident that he brings the leadership, skill and experience needed to deliver the ongoing leadership and capability to progress Metlifecare's growth strategy," McClintock said.

Gasparich was chief executive of Oceania for seven years taking it from a private company to being listed on the stock exchange through a share float.