Chief’s Retirement Prompts ARV Assisted Living Changes

ARV Assisted Living Inc. said its president, John A. Booty, is retiring next month, and that chairman and chief executive Gary L. Davidson will take over the duties of his longtime associate. Booty, 58, will remain as vice chairman and serve as a consultant.

Booty helped Davidson, now 62, found ARV’s predecessor company in 1980. He is ARV’s second largest shareholder, with a 10.4% stake that is slightly less than Davidson’s.

The company also elevated its two divisional vice presidents--Vicki Clark and Patti Smith--to the posts of divisional president.

Separately, the company said it agreed to buy a 120-unit assisted living facility in Sterling Heights, Mich., for about $9.5 million.