The Pennant Group, Inc. announced the appointment of Barry Smith as Chairman of its board of directors and Brent Guerisoli as a member of its board of directors. Mr. Smith has served on Pennant's board since 2021. He previously served as Chairman and CEO of Magellan Health, Inc., from 2013 to 2019, and as Chairman, President and CEO of VistaCare, a national hospice provider, from 1996 to 2002.

Mr. Smith succeeds Mr. Walker, who has served as Pennant's Chairman since its inception as an independent public company in 2019. In 2022, Mr. Walker stepped down from his role as CEO of the Company in consideration of his family circumstances, to pursue charitable causes, and to create space for the next generation of Pennant leaders. In furtherance of those same goals, Mr. Walker has now chosen to formally step away from Pennant's board.

Pennant's board also announced the appointment of Brent Guerisoli, Pennant's CEO, to its board. Mr. Smith's and Mr. Guerisoli's appointments are effective February 28, 2023. Mr. Guerisoli will serve as a Class I director eligible for reelection in 2023.

He will serve on the Board's Quality and Compliance Committee. The number of directors on Pennant's board will remain unchanged at eight.