(LOUISVILLE, KY) – ResCare, Inc. (“ResCare”) today announced the election of James H. Bloem as Chairman of the Company’s Board of Directors. Mr. Bloem succeeds Ronald G. Geary, who served as ResCare’s Board chair since 1992. Mr. Bloem is Senior Vice President, Chief Financial Officer and Treasurer at Humana, Inc., a Louisville-based health and supplemental benefits company. He has served on the ResCare Board of Directors since 2007.
“Jim Bloem has been a valuable asset to the ResCare Board of Directors, and I am extremely pleased that he will be serving as our new Chairman,” said Ralph G. Gronefeld, Jr., ResCare President and Chief Executive Officer. “While it is tough to say goodbye to Ron, Jim’s strengths have provided a new dynamic to the Board at a time when ResCare is going through enormous change, and I am excited to be working with him in his new role.”
Mr. Geary retires after 21 years of service to ResCare. He joined the Company in 1990 as President and was instrumental in taking the Company public in 1992. Under Mr. Geary’s leadership, as Chairman, President and Chief Executive Officer until 2006, ResCare grew from serving 1,400 people with 1,500 employees in six states and Puerto Rico to offering supports to hundreds of thousands of people annually in 36 states, Washington, D.C., Puerto Rico and Canada with more than 38,000 employees. Mr. Geary, an attorney and certified public accountant, is the president of Ellis Park Race Course, Inc., in Henderson, Kentucky, in addition to several other business interests.
“Ron Geary’s leadership and commitment to ResCare have been unquestionable,” noted Mr. Gronefeld. “Ron has been a mentor to me during the many years we worked together, and his support and guidance will be missed. I wish Ron continued success in his business ventures outside of ResCare.”
ResCare also announced the appointment of Steven B. Epstein of Epstein Becker & Green, P.C., to the Board of Directors. Epstein Becker & Green is located in Washington, D.C. and is recognized as one of the leading health care law firms in the country. Mr. Epstein, who founded the firm in 1973, is known as a pioneer in health care law.
“Steven Epstein adds a broad base of experience to our Board, and I am excited about his appointment,” stated Mr. Gronefeld. “His expertise in health care law, risk and compliance will benefit ResCare as we grow our services and move into the future. His appointment enhances an already strong and dedicated Board of Directors that has been invaluable to ResCare over the years. Their ongoing commitment to our company is appreciated and will be instrumental in our future success.”
Also on ResCare’s Board of Directors are:
Dr. David Braddock, a director since 2004, is the Associate Vice President of the University of Colorado (CU) System, Executive Director of the Coleman Institute, and holder of the Coleman-Turner Chair in Cognitive Disability in the Department of Psychiatry in the School of Medicine at the CU Health Sciences Center. He is a principal author of the bi-annual publication of the State of the States in Developmental Disabilities and is a director of the International Special Olympics.
William E. Brock, who has served as a director since 2006, is chairman of The Brock Offices, a firm specializing in international trade, investment and human resources, which he founded in 1988. From 1985 to 1987, Mr. Brock served as the U.S. Secretary of Labor, and from 1981 to 1985, as the U.S. Trade Representative. He served as Chairman of the Republican National Committee from 1977 to 1981 and previously as a Member of the U.S. House of Representatives from 1963 to 1971 and as U.S. Senator for the State of Tennessee from 1971 to 1977. Mr. Brock serves as a Counselor and Trustee of the Center for Strategic and International Studies and as a director of On Assignment, Inc., HealthExtra, Inc. and Strayer Education, Inc.
Ralph G. Gronefeld, Jr., a certified public accountant, has served as a director since November 2006 and as ResCare’s President and Chief Executive Officer since June 2006. Among his positions during his nearly 20 years with ResCare, Mr. Gronefeld has served as President of the Community Services Group, Chief Financial Officer and Executive Vice President of Operations for the Division for Youth Services. Mr. Gronefeld also serves on the national Job Corps Advisory Council and is a Board member with the Health Enterprises Network, where he is vice chair and a member of the Executive Committee, and the Rubel School of Business Executive Advisory Board at Bellarmine University.
Robert E. Hallagan, a director of ResCare since 2004, is vice chairman of Board leadership services for Korn/Ferry International, a provider of executive human capital solutions, ranging from corporate governance and CEO recruitment to executive search, middle-management recruitment and leadership development solutions. Mr. Hallagan is co-founder and Chairman of the Center for Board Leadership, a joint venture with the National Association of Corporate Directors, of which he is also Chairman.
Olivia F. Kirtley, a certified public accountant, has served as a director of ResCare since 1998. Ms. Kirtley is former Chairman of the Board of the American Institute of Certified Public Accountants (AICPA) and of the AICPA Board of Examiners. From 1991 to 2000, Ms. Kirtley served as Vice President and Chief Financial Officer of Vermont American Corporation, a leading manufacturer and marketer of power tool accessories. Ms. Kirtley is a director of Papa Johns International, Inc., an international pizza company, and US Bancorp, a financial services company.
Robert M. Le Blanc, a director of ResCare since 2004, is a Managing Director of Onex Corporation. Before joining Onex in 1999, Mr. Le Blanc worked for Berkshire Hathaway. Mr. Le Blanc is the Lead Director of Magellan Health Services, Inc., a provider of behavioral healthcare services, and a director of the Center for Diagnostic Imaging, Inc., Skilled Healthcare Group, Inc., First Berkshire Hathaway Life, Cypress Insurance, Carestream Health, The Warranty Group and Connecticut Children’s Medical Center.
Steven S. Reed, a director of ResCare since 2003, practices law at Reed Wicker, LLC, Louisville, Kentucky, where he is Managing Member. Mr. Reed was United States Attorney for the Western District of Kentucky from 1999 to 2001 and an Assistant U.S. Attorney for the same district from 1993 to 1999. Mr. Reed is a Past Chair of the Board of Trustees of the University of Kentucky and has served as a Trustee since 1994.
ResCare, founded in 1974, offers services to some 65,000 people daily in 41 states, Washington, DC, Puerto Rico and certain international locations. ResCare is a human services company that provides residential, therapeutic, job training and educational supports to people with developmental or other disabilities, to elderly people who need in-home care, to youths with special needs and to adults who are experiencing barriers to employment. ResCare is based in Louisville, Kentucky.
This press release is not an offer to purchase or a solicitation of an offer to sell securities, including the Notes.
ResCare, with 40 years of experience helping people reach their highest level of independence, is one of the largest providers of home care to seniors and people with disabilities. It also offers residential and support services to people with intellectual and developmental disabilities and provides education, vocational training and job placement for people of all ages and skill levels. Based in Louisville, Kentucky, ResCare and its 50,000 dedicated employees serve daily nearly 60,000 people in 42 states, Washington, D.C., Canada and Puerto Rico. For more information about ResCare, please visit the Company’s website at http://www.rescare.com/