Dondero leaves WMC
Will continue to serve as special advisor
By Jay McIntosh -- Furniture Today, August 19, 2007
Las Vegas — After 11 months on the job, Harvey Dondero has stepped down as CEO of the World Market Center to take a top post at a "global furniture manufacturer," the WMC said late last week.
It did not identify the manufacturer but said the company would make an announcement this week.
Dondero, an industry veteran, joined the growing Las Vegas showroom complex last September as its first CEO. He had spent 32 years in the home products industry, including stints as president of furniture and accessories manufacturers and importers Broyhill, Maitland-Smith and Universal.
He will serve as a special advisor to the WMC and will take part in advisory board meetings, market center officials said. Shawn Samson, co-managing partner of the complex, declined to disclose whether the advisor post was a paid position.
Meanwhile, the WMC said it has hired an international search firm to identify a successor.
In a statement, Samson and Jack Kashani, managing partners of the World Market Center, praised the departing CEO's contributions.
"Harvey brought a tremendous amount of insight to the World Market Center as a veteran of the furniture industry. His leadership has been invaluable over the past several years as a former tenant of World Market Center, an advisory board member and most recently as our CEO," they said.
Under his direction, the market has continued to flourish, as shown by the successful opening of Building B in January and the rapid leasing of Building C, set to open next year, the statement said.
Dondero said in the statement, "I am privileged to be a part of such a dynamic project that I know will continue to be an important force for the home furnishings industry."
While a search for his replacement is under way, Kashani and Samson, along with Ron Wackrow and Michael Brenner of WMC backer The Related Companies, will continue in their roles directing the World Market Center team. Project co-founders Kashani and Samson will oversee the leasing, marketing, operations and international departments, and Wackrow and Brenner will oversee construction and financing.
"The Related Cos., along with Jack and Shawn, remain committed to the complete buildout of this extraordinary project, and fulfilling the vision of World Market Center for the benefit of the industry," said Wackrow.
According to the WMC's plans, when fully built, the complex will have eight buildings encompassing 12 million square feet.
The center's senior management team includes General Manager Dave Palmer, Chief Operating Officer Gerald Sawyer and five group vice presidents who oversee the finance, operations, marketing, leasing, and international divisions.
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Dondero steps down as World Market Center CEO
Aug 17, 2007
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