Like it. Why? The guy is an entrepreneur and has a successful track record in this industry. I like it like I like the hires Ackman made at $HHC. Both have hired people who have done this on their own and are now going to be able to take that skill set and be allowed to operate in a similar environment at their new office. I expect Berkowitz to trim down the layers of management at $JOE and free up those there to operate with far fewer corporate restraints and create an atmosphere to allow that entrepreneurial intuitiveness to take over. While I have no idea who the CEO will be, I would be very surprised if that person did not have a VERY similar background.
There was a decent discussion between Ackman and Berkowitz at the Harbor Investment Conference during their Q&A with each other about the types of people to run these companies. It is clear that it was just more than talk.
WaterSound, FL – March 7, 2011 – The St. Joe Company (NYSE: JOE) today announced the appointment of veteran real estate executive Park Brady, as its Chief Operating Officer, effective March 21, 2011. Mr. Brady will report to the Executive Committee of the Board of Directors, including Bruce R. Berkowitz, Chairman of the Board of Directors, Hugh M. Durden, Director and Interim Chief Executive Officer, and Charles M. Fernandez, Vice Chairman of the Board of Directors.
Mr. Brady has served as President and Chief Executive Officer of ResortQuest, the nation’s largest vacation rental company, since June 2007. Mr. Brady began his career at ResortQuest
in 1998 as the Regional Manager of the Western U.S., later serving as the Corporate Vice President for the company and as Chief Operating Officer. Prior to joining ResortQuest, Mr. Brady owned and operated Telluride Resort Accommodations in Colorado. Mr. Brady is also the founder of Hodnett Cooper Vacation Rentals in St. Simons Island, Georgia.“Park has had proven success,” said Mr. Berkowitz. “He is committed to the Northwest Florida region, and with the help of St. Joe’s stakeholders, will quickly take the Company’s operations onwards and upwards.”