September 22, 2020
The Howard Hughes Corporation (HHC) has selected David O’Reilly, president and CFO, to be interim CEO. Paul Layne has retired as CEO after nine years, effective Sept. 17, and will also step down from the company’s board of directors.
Layne served as CEO throughout the execution of HHC’s transformation plan announced in 2019, which strategically focused the organization on its core master-planned communities, sold non-core assets and moved its headquarters from Dallas to Houston.
“Paul’s superb oversight of the development of The Woodlands and his strong stewardship during the pandemic have created and preserved tremendous value for our shareholders, positioning Howard Hughes for long-term success,” said Bill Ackman, chairman of HHC.
O’Reilly has served as CFO since 2016 and expanded his role to include the presidency in June of this year. HHC’s board will conduct a search for a permanent CEO.
Pictured: HHC headquarters in The Woodlands, TX.
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