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Brookfield CFO Jumps to General Growth

Brookfield Properties Corp. CFO Stephen J. Douglas resigned to take the same position with General Growth Properties.

Brookfield, of course, is working quite closely with General Growth on the regional mall REIT's recapitalization and reorganization.

GGP CEO Adam Metz said in a statement, “We are extremely pleased to welcome Steve to our management team. His financial expertise and industry experience make him well qualified to lead GGP's finance operations as we enter a new stage in the company's history. We are nearing completion of our restructuring and emergence process and adding Steve to our team further enhances our position for long-term success.”

Brookfield CEO Rick Clark said in statement, “We thank Steve for his invaluable contributions to the success of Brookfield Properties and wish him well as he joins General Growth which is being recapitalized by our principal shareholder, Brookfield Asset Management.”

Ed Hoyt, who had been GGP's interim CFO since 2008, will continue to serve as senior vice president, chief accounting officer for GGP.

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