Franiak was appointed COO in April 2010 after serving as WEL’s CFO since April of 2005. As COO he leads all facets of operations and ensures execution of WEL’s vision among its 1,500 residents and 900 employees. Upon assuming responsibility as COO, Franiak played a key role in coordinating the initial analysis, design and implementation of strategies that resulted in the ultimate turnaround of WEL’s newest community, Wesley Enhanced Living at Stapeley (formerly Stapeley in Germantown). Franiak continues to focus on operational and quality initiatives to deliver cost-effective, high-quality care and services for all WEL residents.
As CFO, Franiak was responsible for the fiscal management and financial operations of WEL. He was instrumental in the issuance of $58 million in financing through investment grade variable rate demand bonds with a low cost of capital for renovation and repositioning projects at two of WEL’s communities. Franiak also reorganized the centralized financial functions into a model of operational efficiency that resulted in value-added services to the WEL communities.
Franiak brings nearly 25 years of accounting, financial management and operations experience in the health care and long term care industries to his role at WEL. He formerly served as principal and president of hospitality services company, The Prosperitas Group, where he directed financial and operations functions. Prior to that, Franiak held chief financial officer and vice president of finance positions at Lutheran Social Ministries of New Jersey, The Philadelphia Protestant Home and HomeCareUSA.
Franiak holds an MBA in finance degree from LaSalle University and a BA in accounting degree from Moravian College.