ORLANDO-There’s a changing of the guard at CNL Financial Group. James Seneff is handing the CEO reins of the private investment management firm he founded to Thomas K. Sittema on Jan. 1, 2011. CNL is making the official announcement on Dec. 1.

That makes Sittema only the second CEO in the company’s 37-year history. Seneff will remain the company’s executive chairman and continue to be actively involved in strategy and vision development for the company.

“CNL’s success has been due to our ability to find the best talent, generate great ideas and provide the capital required to turn those ideas into reality,” Seneff says. “Tom is uniquely gifted to lead CNL Financial Group to capitalize on the very exciting future that lies ahead. The first transition from the founder to a new CEO is critical in the life of a private company. I am grateful that Tom has accepted this position and very confident that we have exactly the right leadership in place.”