Howard Hughes Corp. named David O’Reilly CFO, effective Oct. 17. He replaces outgoing CFO Andrew Richardson, who departed the company Oct. 5.
O’Reilly previously served as CFO of Parkway Properties Inc., which recently merged with Cousins Properties Inc.
Company President Grant Herlitz will serve as interim CFO, principal financial officer and principal accounting officer.
O'Reilly plans to purchase a six-year warrant to buy 50,125 shares of Howard Hughes common stock with a strike price of $112.08 for $1 million. The warrant is not exercisable for five and a half years, except under certain conditions such as a change in control. He also cannot sell, hedge or otherwise reduce his net long exposure to the shares underlying the warrants for the first five and a half years.