Five years after the Ventas deal, Todd Lillibridge says there’s still plenty to do
By Murray W. Wolf
Todd W. Lillibridge
Five years ago, when Ventas Inc. (NYSE: VTR) acquired Lillibridge Healthcare Services Inc. and its portfolio of 95 medical office buildings (MOBs), some wondered how long top Lillibridge executives – particularly the firm’s president and CEO, Todd W. Lillibridge – would remain with their new parent company.
Granted, it was a matter of public record that Mr. Lillibridge planned to stick around, at least for a while. He signed a five-year employment agreement with Ventas, dated June 22, 2010, just before the $381 million transaction closed. In that document, he agreed to remain CEO of Lillibridge while adding the role of executive vice president (EVP) of medical office properties with the new parent company.
The agreement, which was filed with the U.S. Securities and Exchange Commission (SEC), also specified Mr. Lillibridge’s base salary, bonuses and incentives as a Ventas employee, and explained how Ventas would deal with his termination or a change of control in the company.
In short, the employment agreement made it clear that
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