Group CEO Update

NZX Release: 22 April 2024

Group CEO Update
Ryman Healthcare has announced that Richard Umbers has resigned his position as Group
CEO and will be leaving the company. Chair Dean Hamilton will act as Executive Chair and a
search for the next Group CEO will commence.
Mr Hamilton said “Richard has led the company through an unprecedented time during the
COVID pandemic, maintaining Ryman’s commitment to outstanding care, at the same time as
progressing a number of significant changes. On behalf of the Board, I would like to thank
Richard for his contribution and commitment to the company and wish him well for the
future.”
Ryman is reaffirming its earnings guidance issued on 19 February 2024.
Mr Hamilton said, “Ryman is a proud company with a strong purpose. Kevin Hickman co-
founded the company on two fundamental and important objectives that remain relevant to this
day – to deliver great care for our residents, and to provide great returns for our shareholders.
“Ryman continues to set the benchmark for retirement living and quality of care for our
residents. However, in terms of returns to shareholders we have fallen considerably short in
recent years. I look forward to working with the team, and eventually the new Group CEO, as
we focus intently on restoring our financial performance and with that our returns to
shareholders.”
“We will be providing an update on progress with the full year results announcement on 27
May 2024” Mr Hamilton said.
The Board of Ryman has determined that Mr Hamilton will be a non-independent director
whilst he is the Executive Chair. A sub-committee of the Board will oversee the performance of
the Executive Chair function during the period, and that committee will comprise independent
directors Paula Jeffs (chair and lead independent director), Anthony Leighs and James Miller. Mr
Hamilton will be paid a salary to be determined by the Board in coming weeks. He will not
participate in any incentive schemes. To create capacity to take up this interim role, Mr
Hamilton will temporarily reduce his duties as a director of Auckland International Airport.
Mr Umbers is leaving Ryman in accordance with his contractual terms.

About Ryman Healthcare:
Ryman Healthcare was founded in Christchurch in 1984 and owns and operates 48 retirement
villages in New Zealand and Australia. Ryman villages are home to approximately 14,200
residents, and the company employs approximately 7,600 staff. Ryman has recently welcomed
the first residents at three new villages – Northwood in Christchurch, Patrick Hogan in
Cambridge and Bert Newton in Melbourne. In addition, Ryman has opened care facilities at
Deborah Cheetham (Ocean Grove, Victoria) and Miriam Corban (Henderson, opening this
month).

Contacts:
For investor relations information contact Hayden Strickett, Head of Investor Relations, on 027
303 1132 (+64 27 303 1132) or email hayden.strickett@rymanhealthcare.com
For media information or images contact Silke Marsh, Group Corporate Affairs Manager on
027 294 3609 (+61 414 790 480) or email silke.marsh@rymanhealthcare.com