On Tuesday, Bayada Home Health Care announced that CEO David Baiada plans to step down from his role upon the appointment of the company’s next CEO.
The company announced that it has commenced a search for its next CEO, who will be the first person to hold the position who is not part of the Baiada family.
“Since joining the business more than 20 years ago, David has helped us grow in size and strength, while always putting The Bayada Way at the center of every decision,” Mark Baiada, Bayada’s founder and chairman, said in a statement. “As we celebrate our 50th anniversary, this transition is about the next chapter – the thoughtful continuation of a promise to protect our mission, preserve our values and pass on our legacy with care.”
Bayada provides home health, home care, hospice and behavioral health care services in 23 states and several other countries.
David Baiada will continue in his role as CEO during the search process and serve as an advisor during the transition. After the new CEO is appointed, he will serve on the company’s board of directors.
“Serving as CEO has been an incredible honor,” David Baiada said. “Together, we’ve grown stronger, strengthened our values, and deepened our commitment to helping people live safely at home with comfort, independence and dignity.”
The company announced its executive leader’s upcoming transition on the anniversary of his appointment to the role eight years ago, which also marks the company’s transition to a nonprofit operation.
During David Baiada’s tenure as CEO, Bayada doubled in size and restructured into specialized care practices.
Recently, the CEO oversaw a 10% reduction in the company’s headquarters staff due to a challenging reimbursement environment. The leader said it was “one of the hardest decisions we’ve had to make as an organization.”
David Baiada previously told Home Health Care News that his legacy at Bayada involves creating a “bridge” from founder to future.
“Often, family businesses haven’t invested enough in infrastructure, systems, capabilities, talent, leadership, and the essentials required for long-term growth and sustainability,” David Baiada said. “Much of my energy as the second CEO was devoted to leveraging the incredible aspects of our founding history from the first 40 years, ensuring we institutionalize that magic while fostering the innovation necessary to navigate the next 50 years and beyond.”
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