CEO to depart Sears Arthur C. Martinez, chairman and CEO of Hoffman Estates, Ill.-based Sears, Roebuck and Co., has told the board that he will retire at year's end. Martinez joined Sears in September 1992 as chairman and CEO of Sears Merchandise Group, and in August 1995 became chairman and CEO of Sears, Roebuck and Co. Before joining Sears, Martinez was vice chairman of Birmingham, Ala.-based Saks Fifth Ave.
"I am very proud of what we've accomplished in the past eight years," Martinez says. "In 1992 some people thought Sears was on the brink of extinction, but Sears management and associates successfully restored the company's profitability. Our management team is stronger than ever."
Frederick Marx, a retail analyst with Marx Layne Marketing & Public Relations in Farmington Hills, Mich., says Sears has turned itself around and grown stronger under Martinez's leadership. "What we see in Sears is a company that is getting ready to surge again because of new strategies developed during Martinez's watch."
The Real Estate Investment Society The Real Estate Investment Society (REIS) has elected officers for 2000. Chuck Basinait of Henderson, Franklin, Starnes, and Holt, has been elected president; Tracy Hayden of Florida Rock Industries, vice president; Houston L. Sonny Pewett Jr. of The Allen Morris Commercial Real Estate Co., treasurer; and Robert Murray of Hole Montes & Associates, secretary.
Brandywine Realty Trust Robert C. Larson has been elected to Newton Square, Pa.-based Brandywine Realty Trust's board of directors. Larson is managing director of New York-based Lazard Freres Real Estate Investors, and non-executive chairman of Detroit-based Larson Realty Group.
LaSalle Investment Management Lynn C. Thurber has been promoted from co-CEO to CEO of LaSalle Investment Management, an affiliate of Chicago-based Jones Lang LaSalle. She is responsible for growth initiatives and management of real estate investments. Previously, Thurber was CEO of Baltimore-based Alex Brown Kleinwort Benson Realty Advisors, before its merger with LaSalle in 1994. Daniel W. Cummings, who shared the co-CEO position with Thurber, has resigned to pursue other interests.
Lowe Enterprises Mid-Atlantic Inc. Susan M. Arrowsmith has been named senior vice president of operations of Los Angeles-based Lowe Enterprises Mid-Atlantic Inc. She is responsible for asset management, leasing and property management for Lowe's commercial portfolio in Washington, D.C. Previously, she was an independent consultant.
Prentiss Properties Kay Younglove has been promoted from vice president to senior vice president of the Southeastern region with Dallas-based Prentiss Properties. She will continue to be responsible for leasing One Atlantic Center in Atlanta, and will provide leadership and strategic direction to leasing management and development in the Southeast. Younglove has been with Prentiss since 1991.
Douglas Wilson Cos. Thad L. Meyer has been named senior vice president of finance and CFO of San Diego-based Douglas Wilson Cos. He is responsible for overseeing finance and operations for Wilson and its brokerage affiliate, Wilson Thorn Properties LP. Previously, Meyer served as senior vice president of finance, CFO and treasurer for Denver-based International Uranium Corp.
Madison Marquette Realty Services L. Craig Estrem has been promoted from vice president of retail services to COO of Minneapolis-based Madison Marquette Realty Services. He is responsible for overseeing and managing budget planning, human resources, information management, asset management and financial operations. Previously, Estrem served as vice president of retail services for The Center Cos. in Minneapolis.
Opus West Corp. William H. McFarland has been appointed to Phoenix-based Opus West Corp.'s board of directors. He is founder of Tech Coast Angels and previously was executive vice president and director of Irvine Community Development, both based in Newport Beach, Calif.
Koll Development Co. Bryan W. McGowan has been named executive vice president and CFO of Newport Beach, Calif.-based Koll Development Co. He is responsible for overseeing finance, accounting and capital markets activity. Previously, McGowan served as executive vice president and CFO at Newport Beach, Calif.-based Donahue Schriber Realty Group. Also, Dominic J. Petrucci has been promoted from executive vice president of the Arizona division to president of Koll's Intermountain division, which includes Arizona, New Mexico, Nevada and Utah. He is responsible for commercial real estate development. Previously, Petrucci served as vice president for Phoenix-based Kitchell Development Co. and Kitchell Corp.
The Limited Inc. Stephen R. Hanon has been named vice president and CFO for The Limited Inc. based in Columbus, Ohio. He is responsible for store finance and operations, performance measurement and expense control. Previously, he was vice president of strategic planning at New York-based Venator Group Inc. Also, Nirmal K. (Trip) Tripathy has been appointed vice president and CFO. He is responsible for finance, distribution, purchasing, loss prevention and information technology. Previously, Tripathy served as director of corporate strategy, mergers and acquisitions at Dallas-based PepsiCo. Inc.
eLink Communications Holly Davis has been named senior vice president and general manager of the Mid-Atlantic region for Washington, D.C.-based eLink Communications. She is responsible for the region's operations and overseeing the rollout of new business initiatives. Previously, Davis was vice president of Toronto-based TrizecHahn.
Northland/Marquette Capital Group (photo) Edward Padilla has been promoted from managing director to president and CEO of Minneapolis-based Northland/Marquette Capital Group. He is responsible for overseeing the existing commercial mortgage banking offices as well as expansion into new markets. Padilla is a nine-year veteran of the firm.