Charlotte’s Aldersgate retirement community said CEO Suzanne Pugh has left her post after 27 years at the institution, including the past 12 years as its leader.
The senior living center said it expects to name an interim CEO soon, with existing management handling day-to-day operations, according to a statement released by the organization.
Formerly called The Methodist Home, the community of more than 650 residents in east Charlotte is a not-for-profit led by a volunteer board. It has reported 10 years of consecutive operating losses with revenue of about $40 million in recent years.
Pugh joined the organization in a marketing post and held increasingly senior positions before becoming CEO. It is one of the largest and oldest continuing-care residential centers in North Carolina.
“We thank Suzanne Pugh for 27-plus years of service to Aldersgate and wish her well as she moves forward to the next chapter of her career,” according to the statement signed by board members Thomas Lawing Jr. and Billy Maddalon. The statement said occupancy remains strong and Aldersgate is in “compliance with all of our covenants.”
Aldersgate includes 346 independent and assisted living residences, 125 skilled nursing beds, and 61 memory support units. Newcomers pay entrance fees ranging from about $103,400 to nearly $630,000, with monthly fees of about $2,200 to $6,000.
Business North Carolina’s February edition includes an in-depth story on the challenges facing Aldersgate.
