Head of Irvine Property Trust Steps Aside

Irvine Co. Chairman Donald Bren stepped aside as president and chief executive of Irvine Apartment Communities Inc., a publicly traded real estate investment trust. Bren, who took the helm of IAC only four months ago, will continue as chairman of the Newport Beach apartment company. Bren will be replaced by William McFarland, an Irvine Co. executive who resigned from that company to assume the IAC posts.