News & Moves: April 10, 2008

Larry Burrows

Weyerhaeuser Co. has named Larry Burrows, 55, as the new president and CEO of Weyerhaeuser Real Estate Co. He succeeds Daniel S. Fulton, who assumed the title of president of Weyerhaeuser Co. in December. Burrows will report directly to Fulton and oversee five local real-estate companies and the company's builder financing operation in Washington, D.C.

Fannie Mae appointed Jacqueline K. Wagner as senior vice president and chief audit executive, reporting directly to the audit committee of the board of directors. According to the company, as chief audit executive, Wagner will also prepare and present the annual audit plan to the audit committee of Fannie Mae's board, provide periodic updates on the status and overall operation of the internal audit department, and inform and advise the audit committee and top management.

Minto Communities announced it hired Michael J. Belmont as the executive vice president for the West Central Florida Division to oversee the operations and expansion. Belmont will lead the way in identifying new opportunities in the Orlando, Tampa and Southwest Florida regions with a strong emphasis on residential development, a cornerstone of Minto's business plan. Belmont recently served as division president for Centex Homes in West Florida.

Robert Toll, CEO of Toll Brothers, will get the $25 million bonus. The Laborer's International Union of North America had problems with Toll getting the huge bonus when the company's stock isn't doing so hot. The organization tried to get the shareholders to withhold their votes and reject his generous bonus plan, but the CEO won.

Pass & Seymour/Legrand, which manufactures electrical wiring devices, accessories and home systems, announced Jim Osterbrock's promotion to vice president of engineering. Osterbrock will be responsible for driving innovation through new product and technology development, as well as product design, packaging design and product testing.

Vicki Bratvold is the new vice president of sales and marketing for Ryland Homes' Jacksonville, Fla., division. Bratvold comes to them after 11 years with Pulte Homes.