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Real Estate moves through April 13, North America edition


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Real Estate moves through April 13, North America edition

This feature presents aweekly rundown of recent significant management and board changes and personnelmoves in the North American real estate industry, including U.S. REITs and REOCs,homebuilders, and gaming operators.

C-suite changes

* Brixmor PropertyGroup Inc.'s board appointed FederalRealty Investment Trust CFO and Treasurer James Taylor as its new CEOand president, effective May 20. Taylor's resignation from Federal Realty is effectiveMay 19. Taylor will also joinBrixmor's board following the company's 2016 annual shareholder meeting, scheduledfor June 16.

* Red Lion HotelsCorp. said April 12 that its boardappointed David Wright CFO on an interim basis, effective immediately. Accordingto the company, CFO James Bell has steppeddown to explore a different professional venture.

* Andrew Richardson will stepdown as Howard HughesCorp.'s CFO later in 2016 to pursue other opportunities and personalinterests.

Board shuffle

* PulteGroup Inc.director James Grosfeld resigned from the company's board, effective April 12, sayinghe sees no "useful purpose"in remaining on the board as he has been excluded from numerous board meetings sinceMarch 22. Grosfeld served on the board's finance and investment committee.

* The nominating and governance committee of 'sboard proposed an increase in the number of trustees to 10 from nine, citing the"significant growth that the REIT has experienced over the last years,"according to an April 13 filing. Luc Bachand was nominated for election to the new trustee seat at theannual and special meeting of the company's unit holders May 10.

* KB Homeappointed Stuart Gabriel to its board at the company's annual stockholders meetingApril 7. The company said April 11 that following his election, Gabriel was alsoappointed to the board'saudit and compliance committee.

* Cole Credit PropertyTrust IV Inc.'s board nominated Alicia Harrison and Glenn Rufrano forelection as directors to fill the two vacancies created following the recent of the board to five membersfrom three. The company's 2016 annual stockholders meeting is scheduled to be heldJune 16.

* Las Vegas SandsCorp. board member Michael Leven retired from the company's board as well as that of its SandsChina Ltd. unit, effective April 11.

* Steven Partridge will notstand for re-election to TIERREIT Inc.'s board of directors at the company's 2016 annual stockholdermeeting slated for June 22. In addition to his role as independent director, Partridgehas also served as chairman of the board's audit committee.

* UMH PropertiesInc.'s board named Kenneth Quigley Jr. to fill the vacancy created bythe retirement of Richard Molke, who served on the board for 30 years. Quigley willserve as a class II independentdirector for the remaining term due to expire in 2017. Quigley was an independentdirector and past chairman of a REIT's audit committee.

Other news

* WeyerhaeuserCo. said April 8 that it appointed Jim Kilberg senior vice presidentof real estate, energy and natural resources, effective April 11, Tom Lindquist, who resigned topursue new business ventures.

* Spirit RealtyCapital Inc. said April 8 that it named Jay Young executive vice presidentand general counsel, effective April 25. In his capacity, Young will on corporate governance, securitiescompliance and financing transactions.

* Nelson Ackerly joined KilroyRealty Corp. as senior vice president of San Diego region. In his newrole, Ackerly will be responsiblefor all leasing and marketing activities for the company's stabilized and developmentportfolios in San Diego.

* Red Lion Hotels tapped Richard Veilleux to its franchise operations. Veilleux willbe leading the brand services and owner relations teams that comprise the franchiseoperations for the company's family of brands.

* Belmond Ltd.said that Maurizio Saccani resignedas executive vice president, Italy, and chief of product development, effectiveApril 18.