Irvine Co. Promotes Executives, Forms Management Committee to Run Company

IRVINE, CA-Richard G. Sim, president of The Irvine Co.’s Investment Properties Group, and two other company executives have been promoted in a reorganization of the firm that will also consolidate the Irvine Apartment Communities division under the auspices of the Investment Properties Group.

Sim, who has been with the firm since 1981, has been appointed to the newly created role of chairman of the Investment Properties Group by company chairman Donald Bren. Sim will be replaced as president by Clarence Barker, formerly president of Irvine Apartment Communities.

“When Donald bought control of the Irvine Company in 1984 he asked me to start the Investment Properties Group,” Sim says. “When I took over we had three-million sf of income properties. Today we have 30 million sf and it’s all rented, and we’re approaching 30,000 apartments. What we did was we had the apartments broken out as a separate company because at one time it was a public company. We thought it was time to bring it all together.”