Irvine Co. Names New CFO in Administrative Shake-Up
The Irvine Co. has named a new chief financial officer as part of an administrative reorganization.
Michael McKee, 50, will head a consolidated Finance and Corporate Administration Group consisting of a new chief investment officer, corporate treasurer and general counsel. Three executives from within the company are being promoted to fill the positions. No employees will be let go as a result of the consolidation, the company said.
McKee, who had been chief legal officer, succeeds Norman Metcalfe, 53, who had been coaxed out of early retirement in 1993 under a three-year contract to help the land development company tap the public markets for financing.
Metcalfe helped organize the initial public offering for Irvine Apartment Communities, which builds and operates Irvine Co.’s apartment rental communities. He also did research on plans to take other parts of the company public, said officials, who added that those plans have been temporarily shelved.
Metcalfe is expected to pursue his personal investments, the company said.
As chief financial officer, McKee will oversee the company’s financial and legal affairs as well as human resources. Before joining Irvine Co., he was managing partner of the Orange County office of Latham & Watkins law firm.
Three other company officers will be promoted as part of the reorganization.
David A. Patty, 45, becomes chief investment officer, overseeing financial planning, accounting and financial services. Since 1994, Patty had been senior vice president of finance for the company’s Investment Properties Group.
Thomas B. Rogers, 57, vice president of corporate finance, becomes treasurer. He also had been an executive vice president and real estate administrator for Security Pacific National Bank.
Daniel Hedigan, 43, was named general counsel. Previously Hedigan was vice president and general counsel for the Irvine Co.’s Land and Residential Development Group. He also has served as counsel for California Pacific Homes.
