J. Scott Watt Is Named Watt Enterprises CEO

J. Scott Watt has been named vice chairman and chief executive officer of Watt Enterprises, based in Santa Monica. The company was founded by his father, Ray Watt.

Ted Cox has been promoted to president and chief operating officer of Watt Enterprises, the parent firm of Watt Industries Inc. and the more than 20 subsidiary companies that develop houses and commercial property in California.

Cox was recently named 1989 “Builder of the Year” by the Greater Los Angeles chapter of the Building Industry Assn. He is a past president of the group.

Ray Watt, 70, who continues as chairman of Watt Enterprises, said the appointments were made to provide the “management experience and long-term perspective needed to ensure the continued leadership position of the company, which has increased its revenues from $170 million to nearly $700 million in the past five years.”

Founded in 1947, Watt Enterprises is one of California’s largest real estate development concerns, credited with building more than 100,000 houses, 10 million square feet of industrial and professional office space and 50 shopping centers.

J. Scott Watt, 43, joined Watt Enterprises as group vice president in charge of corporate planning in 1976, when the Scottfield Building Corp., which he founded in 1968, was acquired by Watt Enterprises.

He served as president of Watt Investment Properties Inc. from 1983 to 1987, when he was made a group senior vice president of Watt Enterprises.

Prior to his promotion, Scott Watt served as a group senior vice president in charge of commercial development. He is now chairman of the executive committee and shares the responsibilities of the chief executive office with his father.

Cox, 43, who was promoted from group vice president in charge of residential building companies in the greater Los Angeles area, succeeds Ken Ramsey as president. Ramsey has left the Watt organization.

Cox joined Watt Enterprises in 1985 as president of W&A; Builders and subsequently became president of W&B; Builders. He has spent more than two decades in the building industry and was vice president/division manager for the residential division of M.J. Brock & Sons before joining Watt.