NEW YORK AND ORLANDO Jim Berk, president/CEO of Fairfield Communities, will leave his position to consider multiple opportunities, including resuming his role as the CEO of another independent company, following the completion of Cendant Corp.s acquisition of Fairfield Communities. The deal is expected to close in April, 2001. Following the acquisition, Berk will also become a speical advisor to Cendant Travel Division Chairman/CEO, Stephen Holmes.
The two companies announced that Franz Hanning, current COO of Fairfield Communities, will assume the position of president/CEO following the close of the transaction. (1/24/01)