The Pennant Group Taps Guerisoli as New CEO

Brent Guerisoli effective Aug. 1 will become CEO of The Pennant Group Inc. (NASDAQ: PNTG). Current CEO Daniel Walker will retire from the position but remain board chairman.

Guerisoli joined Pennant in 2012 and, until August, served as the company’s president and COO. In that role, he has been involved heavily in leadership recruitment and led a turnaround of the company’s once suffering senior living business.

“I have witnessed time and time again the power of our unique operating model in achieving financial and clinical results,” Guerisoli said in a statement. “It’s been my honor to work shoulder-to-shoulder with our amazing leaders, staff, caregivers and resources all these years, and I’m confident that we have many years of success ahead of us as we operate consistent with our core values.”

The Pennant Group is the parent company of operating subsidiaries that provide home health, hospice and senior living services. Their portfolio includes the hospice provider Cornerstone Healthcare.

Pennant spun off in 2019 from The Ensign Group (NASDAQ: ENSG). The company retains Ensign’s former hospice, home health and senior living operations.

The company’s assets include 89 home health and hospice agencies and 48 senior living communities in 14 states. Each one is a separate, independent subsidiary.

Company-wide, Pennant brought in $8.2 million of revenue during Q1, reaching $113.9 million. This represents a 7.8% jump from the prior year’s quarter. The home health and hospice segment contributed $80.5 million.

Chief Operating Officer John Gochnour will succeed Guerisoli as the company’s president, while also retaining his current position. 

Brian Wayment will remain president of Cornerstone Healthcare, Pennant’s home health and hospice business. Andrew Rider will continue to lead the Pennant subsidiary Pinnacle Senior Living.

Walker became CEO of Pennant when the company spun off from The Ensign Group in 2019.

“The actions announced today are a natural extension of those foundational principles and consistent with our history,” Walker said in a statement. “I’m confident Brent is the right leader at the right time for Pennant and that this leadership transition will position us for success in our next chapter.”