CINCINNATI—The board of directors of Cincinnati-based Al. Neyer has just appointed Molly North as its new president and chief executive officer, effective June 1, 2015. North currently holds the position of executive vice president and chief financial officer. Her predecessor, S. Christian “Chip” Nielsen III, will become non-executive chairman of the board.
“I am honored and delighted to lead Al. Neyer, one of the region's premier developer/design-builders,” says North. “This company is on a very strong trajectory; every team member is committed to delivering the best building solutions, service and value available in our industry. I will focus on intentionally growing our talented team, our market footprint, and our development and design-build initiatives.”
North will set the 121-year-old company's strategic direction and lead its executive management team. She also plans to identify new growth markets, and continue to develop its presence in Cincinnati, Pittsburgh, and elsewhere. The company has been employee owned since 2014.
Company officials say the board began planning this move about a year ago. “We express great gratitude to Chip Nielsen for his leadership of Al. Neyer and driving the company transition from family-owned to an employee-owned enterprise,” says board member Edward VonderBrink. Nielsen and North will work closely to transition into their new roles leading up to June 1.
“Chip Nielsen's leadership during our transition to an Employee Stock Ownership Plan helped ensure Al. Neyer has a lasting legacy for many years to come,” says North. “I am grateful for Chip's stewardship and intend on maintaining the strong and aggressive course this company is on.”
Appointed chief financial officer in 2012, North previously helped lead the company's real estate development and finance areas. She gained experience in capital instruments such as New Market Tax Credits, historic tax credits, and tax increment financing. North helped complete major deals including UC Health Midtown and Florence, USquare at the Loop, Taft Offices, and The Offices at Vernon Manor. She has also worked at Fifth Third Bank and Ernst & Young's Cincinnati and Zurich offices.
Al. Neyer's current and recent projects include Seven @ Broadway, a $21 million, seven-story luxury apartment high rise tower in Downtown Cincinnati developed by North American Properties and NorthPointe Group; Gaslight Manor, a 117-unit luxury apartment development near the University of Cincinnati developed by Gaslight Property; Sterling Cut Glass, a 56,000 square-foot corporate headquarters, production facility and warehouse in Erlanger, KY; UC Health, a pair of matching 42,000 square-foot medical office buildings in Columbia Township, Cincinnati, and Florence, KY; and Don's Appliances, a 50,640 square-foot showroom, distributor center and service center in Robinson Township, PA.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
