MarketWatch reports Equity LifeStyle Properties, Inc. (ELS) announces the company’s CEO, Thomas Heneghan, will become CEO of Equity International effective Feb. 2013. The company’s current president and CFO, Marguerite Nader, will fill the position of ELS’ president and CEO as of Feb. 1, 2013. As MHProNews reported Sept. 13, Heneghan replaces Gary Garrabrandt, co-founder of EI, whose sudden departure had Sam Zell temporarily holding the reins. Heneghan will also become co-vice chairman of the board of directors. Patrick Waite, with extensive experience in the manufactured housing industry, will become Senior Veep of Operations. He previously was Senior Veep of American Residential Communities (ARC). Zell says of Heneghan, “For almost two decades Tom Heneghan has provided outstanding leadership and service to this company, and we cannot thank him enough for all that he has accomplished. Equity International has raised over $2 billion from investors and has investments in 15 countries. ELS operates 382 communities in 32 states and British Columbia comprised of 141,077 homesites.
(Photo credit: ELS–Lake Haven, Clearwater, Fla.)