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NEW YORK CITY-The Howard Hughes Corp., formally spun off from General Growth Properties two weeks ago, has named David R. Weinreb as CEO and Grant Herlitz as president. Both men have been working for the company on a contract basis since August 2010.

In a statement, board chairman Willaim Ackman says Weinreb’s hire was based on his “proven track record” and his performance on an interim basis. “David assembled an exceptional team of real estate professionals who quickly evaluated our assets and prepared the company to emerge as an independent entity,” Ackman says. He adds that Weinberg and Herlitz comprise “an entrepreneurial leadership team that is tailor made for our needs. Bringing them on board gives us the benefit of their knowledge of our portfolio and allows the company to focus on maximizing the value of its assets for the benefit of our shareholders.”

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