Aldersgate emails show residents pushed for CEO's ouster
Aldersgate emails show residents pushed for CEO's ouster
East Charlotte retirement community's board dismissed CEO Suzanne Pugh on Wednesday after years of financial troubles
The following article appeared in the Jan. 26, 2024, edition of The Charlotte Ledger, an e-newsletter with smart and original local news for Charlotte. We offer free and paid subscription plans. More info here.
Aldersgate CEO ousted following months of financial crisis, scrutiny; emails show some residents pushed for her exit
Aldersgate retirement community has dismissed its CEO, Suzanne Pugh, following years of operating losses for the community and months of scrutiny by the N.C. Department of Insurance and some residents.
Aldersgate board members Tommy Lawing and Billy Maddalon announced Pugh’s departure in a letter to residents Wednesday, saying the boards of directors of both the Aldersgate community and its umbrella organization, Aldersgate Life Plan Services, “have made the mutual decision to go in a different direction with the CEO position, effective immediately.”
Aldersgate’s boards are working with executive search firms to hire an interim CEO, the letter said, and the non-profit’s management team will handle day-to-day operations in the meantime.
The news was first reported Wednesday by Business North Carolina.
Pugh’s exit comes after years of financial trouble, first reported by The Ledger in August, when state regulators stepped in to oversee the organization’s finances. At the time, Aldersgate’s leaders blamed the troubles on a previous chief financial officer and said that the community had a bright future. Last week, state regulators extended their oversight for an additional 150 days, The Ledger reported.