WCI Communities, the Bonita Springs, Fla.-based home builder that caters to primary, retirement, and second-home buyers, announced late Tuesday that Christopher J. Hanlon, senior vice president and chief operating officer of their Tower Homebuilding division, will leave the company at the end of the year.
"We appreciate the leadership Chris has provided over the past 16 years and the significant role he has played in growing our Tower business. We wish Chris well as he pursues entrepreneurial opportunities," said Jerry Starkey, WCI president and CEO, in a press statement.
Hanlon will stay with WCI and oversee the completion of all the towers scheduled to close for the balance of the year, according to the company. A successor to Hanlon will be announced prior to his departure.
Hanlon's departure is yet another change in the chain-of-command at WCI. In late August, the shareholders of WCI voted billionaire Carl Icahn on to the company's board of directors, more than four months after management rejected his $22-per-share takeover bid. In conjunction with Icahn's appointment, two other members of The Icahn Group, Keith Meister and David Schechter, were also appointed to the board
Like other large home building companies, WCI has reported big losses this year. On Aug. 20, the company reported a $33.2 million net loss for the second quarter.
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