Business News • MarketWire • Leadership Changes at BBX Capital and BFC Financial Corporation |
Leadership Changes at BBX Capital and BFC Financial Corporation |
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Leadership Changes at BBX Capital and BFC Financial Corporation
FORT LAUDERDALE, FL--(Marketwired - December 15, 2015) - The Eleventh Circuit Court of Appeals denied without an opinion Alan Levan's motion to stay, pending a decision on appeal, the District Court's order which prevents Alan Levan from serving as an officer or director of a public company for two years. Accordingly, Alan Levan, Chairman and Chief Executive Officer of BBX Capital Corporation (NYSE: BBX) and Chairman, Chief Executive Officer and President of BFC Financial Corporation (OTCQB: BFCF) (OTCQB: BFCFB), has resigned as an officer and director of BBX Capital Corporation and BFC Financial Corporation, effective December 22, 2015. Jarett Levan, currently President and a director of BBX Capital Corporation and Executive Vice President and a director of BFC Financial Corporation, has been appointed as the Acting Chairman and Chief Executive Officer of BBX Capital Corporation and the Acting Chairman, Chief Executive Officer and President of BFC Financial Corporation, in each case effective upon Alan Levan's resignation. It is expected that Jarett Levan will serve in such capacities for BBX Capital Corporation and BFC Financial Corporation until the expiration of the two-year period or, if applicable, the reversal of the court's judgment in the pending appeal.
View More : http://www.marketwired.com/mw/release.do?id=2082373&sourceType=3
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