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Heneghan to Leave ELS; Nader Moving Up

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October 19, 2012 by   - () Leave a Comment

Change coming at the top.

Equity LifeStyle Properties Inc. (ELS) said Thursday Oct. 18) that its CEO, Thomas Heneghan, has accepted an offer to become CEO of Equity International effective in February 2013, and thus will resign as CEO of the company effective Feb. 1.

Marguerite Nader, the company's current president and CFO, will be elevated to and assume all the duties of president and CEO of the company, effective Feb. 1, according to a news release

Heneghan will remain CEO of Equity LifeStyle Properties until that date, and will work with Nader and the board to implement a seamless transition.

Heneghan, who has also served on the company's board of directors since 2004, will remain a member of the board and effective Feb. 1 will become co-vice chairman of the board along with the company's current vice chairman, Howard Walker.

Paul Seavey, who has worked for the company since 1994 and currently serves as the company's senior vice president of finance and treasurer, has been appointed senior vice president, CFO and treasurer effective immediately, and assumes all of Nader's responsibilities as CFO.

Patrick Waite will join the company in February as senior vice president of operations. He has extensive experience in the manufactured housing industry, in which he has worked for almost 20 years, most recently serving as senior vice president of American Residential Communities.

ELS operates the nation's largest system of RV parks and manufactured housing communities.

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