Primelife’s managing director Jim Hazel has stepped down from his position after joining the retirement village owner and operator in March 2004.
Primelife’s chairman Judith Sloan said the group is deeply indebted to Hazel for overseeing Primelife through a difficult period from 2004, which included the court battle with founder Ted Sent.
“Jim has been an integral part of the successful turnaround of Primelife and we wish him all the best in his retirement,” she added.
Prior to joining Primelife, Hazel was the executive chairman of Village Care Limited, a specialist retirement village and marketing practice, and managing director of Equity One Limited, an investment bank specialising in the aged care sector.
Upon Jim’s retirement, John Martin will assume full responsibility for day to day operations and execution of the strategy of the company. The changeover will be effective October 16, 2006.
Martin has been with Primelife since November 2004 as the company’s General Counsel and General Manager, Corporate. He is also Primelife’s representative on the board of the PrimeLiving Trust, the company’s joint acquisition vehicle with Babcock & Brown and MFS.
“John has been instrumental in the restructuring of Primelife and the resolution of its legacy issues and the board believes he has the right blend of skills and experience to lead Primelife through the next phase of its development.
“His appointment is a planned move, and he will be supported by an executive team which incorporates a great deal of expertise and industry experience,” Sloan added.
By Nelson Yap
