NHI Appoints Lilly H. Donohue to Board of Directors: Strategic Addition with Deep Senior Housing Experience

Key Highlights

• Lilly H. Donohue appointed to NHI Board of Directors, effective February 17, 2026.
• Donohue brings over 30 years of experience in senior housing, real estate investment, and international business operations.
• Her background includes CEO roles at Everstory Partners (formerly StoneMor Inc.) and Holiday Retirement, as well as senior leadership at Fortress Investment Group and BlackRock Financial Management.
• Appointment follows an extensive third-party search, emphasizing the Board’s commitment to strong leadership and governance.

Detailed Analysis

National Health Investors, Inc. (NYSE: NHI) has announced the appointment of Lilly H. Donohue to its Board of Directors, effective February 17, 2026. The appointment, disclosed on February 23, 2026, is the result of a comprehensive search process conducted by a third-party executive and board recruitment firm.

Donohue currently serves as President and CEO of Everstory Partners (formerly StoneMor Inc.), a company operating in the deathcare sector. Prior to this, she was the CEO of Holiday Retirement, the largest independent senior living owner and operator in the United States, overseeing more than 300 communities in 46 states. Her operational expertise in scaling and managing complex organizations in the senior living space is considered a significant asset to NHI.

Donohue’s international experience includes establishing Fortress Investment Group’s China investment office and serving as President of Fortress Investment Group China. Notably, she founded Starcastle (Xingbao) Senior Living in Shanghai, China, building it into the leading senior living and home care provider in the region for Fortress. She was CEO of Starcastle from its inception in 2013.

Earlier in her career, Donohue was a managing director and member of the management committee at Fortress Investment Group, participating since its founding in 1998. She also worked at BlackRock Financial Management from 1992 to 1997, where she was involved in capital raising, private equity investing, and portfolio management.

In addition, Donohue serves on the Board of Directors (and the audit committee) of Sonida Senior Living (SNDA), further reinforcing her credibility and network within the senior living industry. She holds a Bachelor of Science in Business Administration from Boston University’s Questrom School of Business.

Implications for Shareholders

• Potential Share Price Impact: The addition of Donohue, with her significant operational and strategic experience in senior housing, could be viewed positively by investors, particularly as NHI seeks to generate both organic and external growth. Her appointment may signal an increased focus on operational excellence and strategic expansion in the senior living sector—key components that could drive future earnings and portfolio value.
• Corporate Governance: The use of a third-party firm for this appointment underscores NHI’s commitment to robust governance and board diversity, which are often viewed favorably by institutional shareholders and governance-focused investors.
• Strategic Positioning: CEO Eric Mendelsohn highlighted Donohue’s “diverse set of skills” and “extensive background in senior housing operations,” noting that her contributions are expected to be immediate and to add significant value as the company pursues long-term growth.

Company Profile and Forward-Looking Statements

National Health Investors, Inc. (NHI) is a self-managed real estate investment trust (REIT) specializing in sale-leaseback, joint venture, mortgage, and mezzanine financing of senior housing and medical facility investments. NHI operates in two main segments: Real Estate Investments and the Senior Housing Operating Portfolio (“SHOP”). Its portfolio includes independent living facilities, assisted living, memory care communities, entrance-fee retirement communities, skilled nursing facilities, and specialty hospitals.

The company cautions that this press release includes forward-looking statements subject to a variety of risks, including but not limited to: property manager and tenant performance, concentration risk, regulatory and reimbursement risks, liability and insurance costs, development outcomes, interest rate and inflationary pressures, and the ability to maintain REIT status. Investors are urged to review the company’s public filings for a comprehensive overview of risk factors.

What Investors Should Watch

• Any near-term changes in NHI’s operational strategies or new growth initiatives that may be driven by Donohue’s appointment.
• Potential shifts in portfolio management, investment focus, or governance practices as a result of board composition changes.
• Market and analyst reaction to the appointment, which could influence share price volatility in the short term.

Conclusion

The appointment of Lilly H. Donohue is a notable development for NHI, signaling a commitment to leadership excellence and operational growth. Given her track record, investors should monitor for strategic initiatives or performance improvements that may arise from her involvement, which could have a meaningful impact on share value.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research and consult financial advisors before making investment decisions. The information herein is based on publicly available disclosures as of February 23, 2026, and may be subject to change.

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