Enterprise appoints new CEO, chairman Harvey to lead foundation

July 02, 1993|By Adam Sachs | Adam Sachs,Staff Writer

The board of trustees of the Enterprise Foundation yesterday named F. Barton Harvey III as chairman and chief executive officer. The Columbia-based foundation assists nonprofit groups nationwide to produce affordable housing.

Mr. Harvey, 44, assumes his new position Oct. 1 at the foundation launched by Columbia's developer, James Rouse, and his wife, Patty, in 1981.

Mr. Rouse will then become the founder-chairman of the Enterprise Foundation. Mr. Rouse retired as the chief executive officer two years ago, but has continued his role as chairman of the board, a position he has occupied since founding the foundation.

Mr. Rouse, 79, said he will continue to participate in the foundation's initiatives "but without the responsibilities I had as chairman and CEO."

"The title 'chairman and CEO' is appropriate for the person who will lead the foundation, and that's Bart Harvey," Mr. Rouse said. "I'll continue to lead and respond in whatever way might be needed."

The foundation is a national nonprofit organization working with more than 320 neighborhood groups to produce fit and affordable homes for low-income people in more than 100 locations across the country.

The foundation has contributed financial and technical expertise and resources to help build, rehabilitate or put under construction more than 28,000 homes since 1981.

Since 1991, Mr. Harvey has served as vice chairman and co-CEO with Paul Brophy. Mr. Brophy is stepping down to resume independent consulting work in the fields of housing policy and development, and real estate development.

Mr. Brophy said the foundation's board has discussed the future leadership of the organization.

"The conclusion was we're now at the point in our age and maturity that we would benefit from a more traditional management approach than we've had," he said.

Mr. Brophy will continue to advise the foundation and will remain a board member.

Mr. Harvey, who joined the foundation in 1984 after 10 years as managing director of corporate finance at Dean Witter Reynolds, said he doesn't anticipate making any immediate changes in the way the foundation is run.

"The foundation is now very strong, dynamic and well-respected," he said. "I greet this challenge with great optimism and some humility knowing that Jim has been the past chairman."

The board of trustees also approved a plan to restructure its committees in an effort to best meet the long-term needs of the foundation.

Effective January 1994, David O. Maxwell, former chairman of Fannie Mae, will become chairman of the foundation's executive committee. This committee will have more oversight responsibility for operations, management and strategic issues

concerning the foundation.

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