Sunrise CEO steps down
- July 17, 2008
The founder and CEO of McLean-based Sunrise Senior Living Inc. announced Wednesday he would step down from his CEO role in November.
Paul Klaassen, who founded what has become the nation’s largest senior living community, founded the company in 1981 with his wife, Terry. He will become nonexecutive chairman of the company.
“Throughout my 27 years of leading Sunrise, I have been privileged to see our passion for improving quality of life for seniors fuel our growth from a single community to a thriving organization that has truly helped change the way seniors are served,” Klaassen said in a statement.
Mark S. Ordan, Sunrise’s current chief investment and administrative officer, will become CEO. Ordan began working for Sunrise this year.
Sunrise was in danger of becoming delisted from the New York Stock Exchange because of delinquent financial statements. An internal investigation found improper accounting, and the company began restating its earnings.