Sunrise Senior Living, McLean, Va., said it named Richard Nadeau as its new chief financial officer. Since July, Nadeau, 53, has consulted for the senior-living provider on the companys pending restatement and Sarbanes-Oxley compliance efforts. He succeeds Bradley Rush, who left the company in May, when Sunrise said in a news release that it had terminated Rushs employment for cause. Julie Pangelinan, the companys chief accounting officer, has served as acting CFO since April 23.
Most recently, Nadeau was the CFO at the Mills Corp., a real estate developer of shopping malls and retail and entertainment centers. Formerly a publicly traded company, Mills Corp. was acquired by the Simon Property Group, an Indianapolis-based real estate investment trust, earlier this year. From 1977 until 2002, Nadeau worked for Arthur Andersen, where he was a national practice director and audit partner serving real estate companies, service-related companies and government contractors.
In late July, Sunrise said the board is considering strategic alternatives, including a possible sale of the company. As of June 30, the company operated 453 communities in the U.S., Canada, Germany and the U.K. and said it had an additional 38 communities under construction. -- by Jessica Zigmond