October 21, 2019
Following a strategic review process, commercial, residential and mixed-use real estate owner and developer Howard Hughes Corp. unveiled its transformation plan and new leadership. The company has appointed Paul Layne to the position of CEO. Layne will replace David R. Weinreb on the board of directors, as Weinreb and Grant Herlitz will step down from the company.
Layne has more than 35 years of real estate operating and development experience. He joined HHC in 2012 as a senior executive, and most recently served as the company’s President, Central Region. David O’Reilly, the company’s Chief Financial Officer, will have his role expanded to execute the new plan.
As part of the new plan, HHC will move to a decentralized regional management structure model, and will consolidate its Dallas corporate headquarters with its largest regional office in The Woodlands, TX. The company has also identified approximately $2 billion of non-core assets it will sell during the next 12-18 months.
Pictured: Paul Layne
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