Effective Sept. 18, Michael Richmond says goodbye, but only to the lead office for the 27,000-acre, master-planned community that he's help to build. A Woodlands resident, he feels he's accomplished the goals set out by the original developer, George Mitchell. Richmond also intends to help out with an occasional real estate project and will continue in an advisory capacity.
"The Woodlands has earned its place, not only in the success records of master-planned communities, but in the historical essence of how to develop a place where generations of residents can truly live, work, play and learn in harmony with nature," Richmond said in a press release.
In 1972, Richmond started as controller for the Woodlands Operating Co., arriving one week before development broke ground. He was named president and COO in November 1997 after it was acquired by a joint partnership of Morgan Stanley and Crescent Real Estate Equities Inc. A year later, Richmond was promoted to president and CEO.
Tim Welbes, vice president of residential development, is heading an interim operating committee that includes John Landrum, chief investment officer; Robert Nelson, vice president of hospitality; Alex Sutton, vice president of land development; and Eric Wojner, vice president of commercial investment properties. There is no information as to when or if another CEO or president will be named, according to a Woodlands contact.
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