Tim Hammond steps down as Four Seasons CEO

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Tim Hammond (pictured) has stepped down as Four Seasons CEO and has been replaced by chairman Martin Healy on an interim basis.

The leadership change was made confirmed by documents filed with Companies House on Friday.

Martin said: “I would like to thank Tim Hammond for his contribution to the business throughout his time at Four Seasons. We wish him well in his future endeavours.”

Tim stepped down after previously surviving a boardroom shake-up at Four Seasons that was undertaken as part of preparations for a possible sale to leading credit H/2 Capital in October 2018.

The deal to sell 185 freehold properties to H/2 Capital collapsed in October 2019 after administrator Alvarez & Marsal announced details of the agreement had not been met.

Four Seasons’ change of leadership comes amidst continuing uncertainty about its future.

Concerns for the future of its 135 leasehold properties were raised following Four Seasons’ decision to withdraw rent as part of renegotiations with landlords in October.

In a separate deal last week Barchester Healthcare purchased 24 brighterkind care homes from private equity group Terra Firma that had previously been the subject of a legal battle with H/2 Capital.

The post Tim Hammond steps down as Four Seasons CEO appeared first on Care Home Professional.

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