Enterprise Community Investment, Inc., has announced the planned retirement of President and CEO Jeffrey H. Donahue, effective April 15.
The company’s board of directors has named Charles R. Werhane, vice chairman and chief operating officer, as Donahue’s successor.
Prior to becoming CEO in 2003, Donahue, 62, served on Enterprise’s board for eight years while working as vice president and chief financial officer at The Rouse Co.
Enterprise manages one of the largest low-income housing tax credit portfolios in the nation, representing $7 billion in equity and 1,600 projects. “During Donahue’s tenure as CEO, Enterprise Community Investment’s organizational strength has expanded substantially and, in financial terms, its revenues, net worth, and assets under management have all increased by 75 percent or more,” says Chairman Jaime Yordan.
Werhane, 54, joined Enterprise six years ago and started its New Markets Tax Credit program and has overseen all debt and equity production lines since 2006.