Howard Hughes Holdings Inc. (NYSE: HHH) announced longtime board member Scot Sellers will be named chairman of the board of directors at its upcoming annual meeting.
Sellers will succeed Bill Ackman, founder and CEO of Pershing Square Capital Management LP, who will be retiring from the HHH board after serving as its chairman since founding Howard Hughes in 2010. Pershing Square Partner Ben Hakim is being nominated to replace Ackman on the board while Pershing Square intends to remain a major, long-term shareholder of HHH.
Sellers has been on the board since the company’s inception. He served as chairman and CEO of the multifamily housing company Archstone and currently serves on the board of The Irvine Company. He is also chairman of the board of Maui Land & Pineapple Company.
“Howard Hughes is entering an exciting new chapter in the company’s history, with tremendous opportunities for growth and an active development pipeline of transformative projects that will continue to distinguish the company’s national portfolio of acclaimed communities,” said Sellers. “The Howard Hughes board and its executive leadership team have always worked in close collaboration, and I look forward to supporting the continued success of this dynamic company.”
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