Prominent executives at two of the nation's leading long-term-care companies-Beverly Enterprises and Vencor-have resigned.
During the past two weeks, Robert D. Woltil resigned from Beverly, and Bruce L. Busby stepped down from Vencor.
Woltil, 41, left his post as president of Pharmacy Corporation of America, a Beverly subsidiary, on Jan. 17. He also served as executive vice president of Beverly.
Beverly has cited significant difficulties in consolidating the operations of the troubled PCA unit for several months. However, it was unclear if Woltil chose to resign or if the impetus for the move came from Beverly.
The company will seek "an individual with different qualifications, including extensive operating experience in pharmaceuticals and related industries," said Boyd W. Hendrickson, Beverly's chief executive officer, in a written statement.
When Woltil, stepped into the top slot at PCA last May, Beverly was putting spinoff plans for the unit on hold indefinitely. Previously, he had served as Beverly's chief financial officer. During his tenure, PCA continued to disappoint, most recently contributing to Beverly's lower-than-expected fourth-quarter earnings, slated for release this week.
Fort Smith, Ark.-based Beverly is the nation's largest long-term-care provider, with more than 700 nursing homes.
On Jan. 23, Vencor announced the resignation of Busby, CEO of Vencor's nursing center division and executive vice president of the parent company. Busby also vacated his seat on Vencor's board of directors.
Busby, 51, had been chairman and CEO at Hillhaven Corp., which merged with Vencor in September 1995. Meanwhile, W. Bruce Lunsford remained in the position he had held before the merger, that of chairman and CEO of Vencor.
Busby, who cited personal reasons for his departure, "views it as an appropriate time to take on new challenges," Lunsford said in a written statement.
Louisville, Ky.-based Vencor operates 311 nursing centers in 41 states.