Mainstreet CEO Steps Down From Board
Turner says the litigation route is the company's only option.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe founder and chief executive officer of Carmel-based Mainstreet has resigned as chairman of the board of directors for subsidiary Mainstreet Health Investments Inc. Zeke Turner says he is stepping down to focus on Mainstreet’s continued growth.
Mainstreet Health Investments was formed in 2016 through a reverse takeover transaction between another Mainstreet subsidiary, Mainstreet Investment Co. LLC and Canada-based Kingsway Arms Retirement Residences Inc. The deal gave Mainstreet a portfolio of 10 senior care properties near Chicago.
"I’m proud of what we have accomplished with Mainstreet Health Investments," Turner said in a news release, "but now is the right time for me to focus my efforts on Mainstreet’s continued growth in both our real estate development business and our innovative healthcare operations. Our new rapid recovery properties position us to be leaders in the post-acute care field, where we will bridge a vital gap in rehabilitation treatment that results in better outcomes for patients, hospitals and physicians. It’s an exciting time for our company, and I’m looking forward to our continued push to transform the lives of the people we serve."
Another board member, Rob Dickson has also resigned from the board. The company says Chuck Herman, former president of seniors housing and post acute at Ohio-based Welltower Inc. (NYSE: HCN), has been appointed to the board while existing board member Richard Turner has been appointed chairman.
"We are grateful for all Rob and Zeke have contributed to the Board since the launch of the company. We have grown considerably over the last fifteen months and we are now positioning ourselves for the next phase of growth," said Turner. "We are thrilled to have Chuck join our Board. He is a well-respected industry veteran who will help us continue to grow as a company."
Mainstreet Health Investments did not state a reason for Dickson’s departure from the board.