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ARV's Chief Finance Officer Resigns

BRIEFLY/ HEALTH CARE

November 07, 1998|(Bloomberg News)

ARV Assisted Living Inc. said its chief financial officer resigned just two weeks after joining the company. ARV issued a brief statement late Friday saying that CFO Victor Streufert resigned for "personal reasons." The Costa Mesa-based company announced his appointment on Oct. 20. Streufert and ARV officials weren't available to comment. ARV, a developer of housing for the elderly, on Oct. 21 said it implemented a "poison pill" anti-takeover plan to prevent a Lazard Freres & Co. affiliate, Lazard Freres Real Estate Investors, from boosting its 48% stake in ARV. The relationship between the two soured when Lazard bid in April to buy ARV competitor Atria Communities Inc. A California court in August dismissed an ARV lawsuit that sought to prevent that acquisition. ARV stock closed Friday at $6.75, up 38 cents a share. Streufert's departure was announced after the close of trading.

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