John S. Gattuso heads Liberty's national marketing and urban development group, which is now under Hankowsky's leadership. Among its current projects is marketing the proposed One Pennsylvania Plaza, a 52-story office tower at 17th and Market St. in Downtown; development of PPL Corp.'s new headquarters in Allentown, PA; and development of a sizeable portion of the Philadelphia Naval Shipyard mixed-use project.

Rouse explains in a statement the reorganization of management began with his original diagnosis last year. He and the board of trustees established a process "to ensure continuity of management throughout whatever lay ahead." When Hankowsky's promotion was announced in March, "we stipulated that his assigned responsibilities were not changing at that time," Rouse says.

Since then, he adds, "I have seen Liberty's employees embrace Bill and increasingly turn to him for direction. Today's announcement reflects a formalization of responsibilities I, and our people, have already conferred on him."