Summerset (ASX:SNZ) - Retiring CEO, Julian Cook
Retiring CEO, Julian Cook
Source: Stuff NZ
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  • Summerset Group’s (SNZ) Chief Executive announced his resignation today after over a decade with the aged care provider
  • Julian Cook, who served as CEO for the last seven years, will step down from his post in March 2021
  • Speaking to his retirement, Julian said it was the right time to hand over the baton, transitioning the company’s leadership for its next chapter of growth
  • Moving forward, Summerset’s deputy CEO and CFO Scott Scoullar will take the reigns as the company’s new Chief Executive
  • He’ll officially onboard as CEO in late March 2021
  • On the back of today’s news, Summerset shares soared 2.14 per cent
  • Company stock closed worth just over $10 each in a $2.24 billion market cap

Summerset Group’s (SNZ) Chief Executive announced his resignation today after over a decade with the aged care provider.

Julian Cook, who served as CEO for the last seven years, will step down from his post in March 2021.

Speaking to his retirement, Julian said it was the right time to hand over the baton, transitioning the company’s leadership for its next chapter of growth.

“I am very proud of what we deliver to residents, staff, and our communities. I will greatly miss the people who work with us and the residents who live in our villages,” the Chief Executive told investors today.

“Summerset has come through the COVID-19 lock-downs and is performing well. I am very confident of its ongoing success … [the company] has an exciting future ahead,” he continued.

Moving forward, Summerset’s deputy CEO and Chief Financial Officer (CFO) Scott Scoullar will take the reigns as the company’s new Chief Executive.

Scott has worked his way up the ranks since starting with the aged care provider in 2014. Previously, he took over from retiring CEO Julian Cook as CFO before becoming deputy Chief Executive in early 2018. He’ll officially onboard as CEO in late March 2021.

“Scott’s role as Deputy Chief Executive has given him broad experience across the business. The board has undertaken a comprehensive process in appointing him as Chief Executive and we are confident in Summerset’s ongoing success under his leadership,” Summerset Chair Rob Campbell said today.

On the back of today’s news, Summerset shares soared 2.14 per cent. Company stock closed worth just over $10 each in a $2.24 billion market cap.

SNZ by the numbers
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