Sunrise Maintains Faith in CEO Ordan
Sunrise Senior Living, Inc., has renewed CEO Mark Ordan’s contract through December 1, 2012, with automatic renewals each year after that, citybizlist reported.
The Mclean, Virginia-based assisted living provider reported in a recent SEC filing that Ordan will receive a $3 million re-signing bonus and an annual base salary of $650,000, along with other fringe benefits and stock options.
“For 2009, Ordan earned total compensation of $2,427,500, of which $652,500 was salary,” citybizlist reported.
Sunrise has experienced both financial strife and resurgence during Ordan’s leadership since he took the helm in November 2008. The company experienced a significant third quarter in 2010, earning more than $18 million compared to a loss of $44 million a year ago.