Ethan Penner Leaves Kennedy-Wilson

BEVERLY HILLS, CA-Ethan Penner has left his post as president of Kennedy-Wilson Inc. after less than six months, a company spokesperson confirmed Wednesday.

Penner was known as a CMBS and real estate finance wizard for his days at Nomura Asset Capital Corp in the 1990s in an era when commercial mortgage-backed securities grew from obscurity into a major source of real estate finance.

Penner joined Kennedy-Wilson in March and, according to an announcement at the time, was to have worked with Kennedy-Wilson’s Chairman and CEO, Bill McMorrow, in developing and directing the various businesses of Kennedy-Wilson, an international real estate services and fund management firm.

McMorrow said at the time that Penner would focus on creating strategic ventures aimed at investing in both real estate and debt that is secured by real estate as well as expanding the company’s real estate services.

The spokesperson says the publicly traded company has not yet issued a press release. Neither Penner nor Kennedy-Wilson officials could be reached for comment Wednesday.

The company’s share price at the close of trading Wednesday stood at $4.39, off $0.09 on the day and $1 above its 52-week low of $3.41, which dates back to November 2001. Its 52-week high of $6.33 occurred in late February.