|  |  | John Crosland Jr. Retires as Chairman of CroslandCharlotte, N.C., April 13, 2007 – John Crosland Jr. has retired as chairman of Crosland LLC after 50 years of dedicated service. Todd Mansfield, who has led the company since 1999 as president/CEO, adds the role of chairman to his current duties.
The privately owned company, which is governed by an independent board of directors, has expanded beyond Charlotte in recent years to offices in Raleigh, Tennessee and Florida, with projects under development in five states. Current board member Paul Leonard has been named presiding director of the board.
“This company is on an excellent footing,” said Mr. Crosland. “Under Todd’s leadership, we’ve grown more significantly and successfully than even I thought possible. Retiring now affords me the opportunity to guide the organization through this next phase of my succession plan.
“This is a significant step for me, but from the standpoint of company operations, and independent board oversight, it will be business as usual,” added Mr. Crosland, who will continue to work from his office in the company headquarters. “I will remain an active member of the board as chairman emeritus, will continue to chair the Crosland Foundation, and most importantly, will cheerlead the company’s continued success.”
Mr. Crosland recently received the 2007 Hearthstone Builder Humanitarian Award in honor of a lifetime of public service, and was recognized last month by the Mecklenburg Chapter of the Boy Scouts of America as Distinguished Citizen of the Year. He has previously won the national Builder of the Year award as well as countless other accolades.
Mansfield will continue to lead the company, setting the strategy for growth and managing the enterprise.
“I consider this appointment an honor and a privilege, and a tremendous vote of confidence,” said Mansfield. “I look forward to continuing to work closely with John.”
As presiding director, Leonard will lead the board of director meetings, facilitate discussions among the independent directors, and chair the existing board governance and nominating committee. Leonard is the former chief executive officer and managing director of Habitat for Humanity International. He also recently led the search for the president of Davidson College. Previously, he was executive vice president of Centex Corporation, one of the largest five national homebuilding companies. He joined Centex in 1987 when Crosland sold its home building company to Centex.
John Crosland III will continue as vice chair of the company.
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