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Essential IR Insights Newsletter - February 2023

Lennar names EVP; Prologis appoints Wells Fargo exec to board

This feature presents a weekly rundown of recent significant management and board changes and personnel moves in the North American real estate industry, including U.S. real estate investment trusts and homebuilders.

C-suite changes

* Altisource Asset Management Corp. named Indroneel Chatterjee as co-CEO and a board member, effective Jan. 13. CEO George Ellison will continue as co-CEO and chairman.

* TopBuild Corp. said Jerry Volas stepped down as CEO and a board member, effective Dec. 31, 2019. Volas will be replaced by Robert Buck, president and COO of the company.

* Homebuilder Lennar Corp. named Senior Vice President Jeff McCall as executive vice president.

* Sandeep Mathrani is leaving his position as vice chairman and CEO of Brookfield Properties' retail division, Commercial Observer reported, citing an unnamed source who received an email from Mathrani.

Board shuffle

* Philip Hawkins, who resigned as an independent director of industrial REIT Prologis Inc., effective Jan. 15, became executive chairman of Blackstone's Link Industrial Properties. The REIT named Avid Modjtabai as an independent director, effective Feb. 20. Modjtabai will retire from his role of senior executive vice president and head of Wells Fargo & Co.'s payments, virtual solutions and innovation group at the end of the first quarter.

* Coca-Cola Co. executive Monica Howard Douglas is set to join VICI Properties Inc.'s board as an independent director, subject to and effective upon receipt of all applicable regulatory approvals.

* Healthcare Trust of America Inc. appointed H. Lee Cooper and Jay Leupp as independent directors. Daniel Henson resigned from the healthcare REIT's board, effective Jan. 8, to focus on his board chair roles for portfolio companies affiliated with Blackstone.

Other news

* Industrial REIT Duke Realty Corp. promoted Megan Basore to vice president of corporate responsibility and named Saundra Gilbert corporate responsibility and brand manager.

* Mexican industrial property company Corporación Inmobiliaria Vesta SAB de CV promoted Fernanda Bettinger to investor relations officer, effective Jan. 13. Bettinger replaced Christianne Ibañez, who left the company to explore a new professional opportunity.