By Thomas A. Parmalee
J. Bradley Green, the chief executive officer of Park Lawn Corp., who spearheaded its transition to private ownership in a deal valued at about $970 million, including net debt, announced to employees earlier this month that he’ll be stepping down as the company’s chief.
Jennifer Hay, currently Park Lawn’s president and general counsel, will assume the CEO role as of May 5, she confirmed.
Green sent an email to Park Lawn employees earlier this month that the company shared with FuneralVision.com.
In it, he noted the significant changes that have occurred at Park Lawn over the last year. “Undoubtedly, the most important of these occurred in August 2024 when we closed the transaction to transition Park Lawn to a privately held company,” he said.
He continued, “When announcing the transition, I underscored the fact that this decision was made to keep the company, and our employees, safe for the long term by removing us from the volatility of the public markets and the need to satisfy the expectations of analysts and shareholders, many who do not understand our profession. Since that time, we have begun to shift our focus to the sustainable growth and improvement of our business.”
The transition also provided Green and Jay Dodds, who he worked alongside at Carriage Services before the two launched The Signature Group, the opportunity to “shape the future of Park Lawn through the continued development of our immediate successors.” He added, “By doing so, Mat Forastiere has successfully taken on the role of Chief Operating Officer, allowing Jay the opportunity to take a step back and focus more on the enrichment of the profession.”
He noted in his email that he has been working with Hay over the last year or more to transition many of his duties to her.
“As you are aware, she took on the role of President & General Counsel with our transition last August,” he said. “Since that time, she has consistently demonstrated her readiness to step into my role as she has taken on more responsibility and is, in fact, doing a lot of the work already.”
Green noted that he spent a considerable amount of time carefully thinking about when to make this decision. “After considering all of the options, I’ve come to the realization that I am ready to take a step back, and that Jennifer is ready to lead Park Lawn into its next chapter,” he said.
However, Green noted that he remains committed to the success of Park Lawn and the profession – and that he will “remain involved to assist Jennifer in stepping into the role of Chief Executive Officer.”
Hay, who joined Park Lawn in 2018 as associate general counsel, has since held key leadership positions, including general counsel and chief strategy officer and general counsel. In August 2024, she was promoted to president and general counsel.
In an email to FuneralVision, she said she’s been privileged to work alongside Green for many years. “I am truly grateful for his leadership and the confidence he’s placed in me and the rest of the management team,” she said. “We are excited about what the future holds for Park Lawn and feel honored to continue building on the strong foundation Brad helped to establish. His continued support of me, the leadership team, and the company’s success is deeply appreciated.”
Park Lawn’s transition to private ownership was completed in August 2024, with Homesteaders Life Company (by way of Viridian Acquisition) making a $250 million investment in Park Lawn alongside Birch Hill Equity Partners. “This investment, while significant, places us in a minority position in the company. Actual percentages will be determined at closing,” Steve Shaffer, president, CEO and board chair of Homesteaders, told FuneralVision.com in an earlier interview.
In a statement, Viridian Acquisition said, “We thank Brad for his leadership, vision and the many contributions he has made to Park Lawn’s success over the years. We’re especially grateful for the thoughtful succession planning he put in place well in advance of this transition, and for his commitment of continued support of the management team and the company. We value our partnership with Park Lawn, are confident in our investment, and look forward to the next chapter with the management team.”
Hay, who earned a juris doctor degree from Baylor University School of Law, spent her career as a lawyer before joining Park Lawn, working at Watt Beckworth Thompson & Henneman in Houston before first working alongside Green at Carriage Services, where their employment overlapped when she was at the company from 2009 to 2014.
Later, she was a corporate counsel at LDR Spine USA and senior transactional counsel at Whole Foods Market before making her way back to death care in 2018 – a couple years after Park Lawn Corp. agreed to buy The Signature Group. Once at Park Lawn, Green and Dodds marched up the ranks before helping to broker the going private transaction.
According to the Park Lawn website, Hay has been a licensed attorney since 2001, with over two decades of experience spanning legal, strategic, and executive leadership roles. “Her expertise spans various functional areas including Legal, Human Resources, Audit and Compliance, Safety, and Risk Management, reflecting her ability to lead and integrate multidisciplinary teams,” the Park Lawn website states. “She is also engaged in the broader funeral and cemetery profession, serving as a board member for the HeartLight Center and a member of the Finance Committee for the Funeral Service Foundation.”
Note: Green’s longtime colleague, Jay Dodds, will be honored with the ICCFA Educational Foundation’s Lasting Impact Award at the President’s Welcome Banquet on April 30th at the 2025 ICCFA Experience at the Mandalay Bay & Casino in Las Vegas.
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