Joe McAdams Stepping Down as ELS President
Equity LifeStyle Properties Inc. today (Jan. 25) announced that Joe McAdams is stepping down as president of the company.
Chicago-based ELS owns or has an interest in 307 RV parks and manufactured housing communities in 27 states and British Columbia consisting of 110,984 sites.
McAdams, 67, the company’s current president, has expressed a desire to reduce his involvement in the day-to-day operations of the company, the company stated in a news release that also contained fourth-quarter 2010 and year-end results.
Effective Feb. 1, McAdams will become president of a subsidiary of the company involved in ancillary activities and relinquish his role as president of ELS.
"We appreciate Joe’s willingness to continue to be a part-time resource for the company and thank him for his contribution to the company’s steady performance over the last few years in a challenging economic environment," said Thomas Heneghan, ELS CEO.
Heneghan will re-assume the role of president of the company, in addition to his current role as CEO.
As a result, effective Feb. 1, the following executive officers will be reporting to Heneghan:
- Michael Berman, executive vice president and CFO.
- Ellen Kelleher, executive vice president, property management.
- Roger Maynard, executive vice president, asset management.
- Marguerite Nader, executive vice president, new business development.
- Seth Rosenberg, senior vice president of sales and marketing.
Kelleher will no longer act as secretary of the company as such duties will be transitioned to Rosenberg, the company’s general counsel. Rosenberg joined the company in February 2010 and was previously a general manager for a division of Active Network Inc., a leading provider of software and marketing services used by campgrounds and other outdoor recreation providers.