Watt Plaza, a 900,000-square-foot, 23-story twin tower office campus, owned by Watt Cos.
One the heels of announcing Nadine Watt as CEO, Watt Cos. has named John Devereux as president. The decision was Watt's first act as CEO, and underscores her expansion plans for the firm. Devereux stepped into the role this month, and will oversee the firm's strategy and long-term growth goals, with a special focus on financial matters.
"I really enjoy strategic planning, team building and leadership. In my most recent roles, I have had the opportunity to build teams, set goals and work towards attaining those goals" Devereux, a 30-year industry veteran, tells GlobeSt.com. "Accomplishing what you set out to do and creating a team or business that can replicate that success on an ongoing basis is extremely fulfilling. Watt is a tremendous platform to allow me to do this. The foundation and structure is in place with a supportive board eager to take the company to its next level. In addition, the company's core values of integrity, professionalism, teamwork and entrepreneurism resonate with me."
Devereux is entering the firm in a new phase. Nadine Watt, the former president, has taken the reigns from her father as the new CEO, and plans to drive the company through its next phase of growth with Devereux. "The company's five year plan ends in 2020, so I am focused on working with each business unit to look forward to the next five years and take this moment to define each division's Northstar and develop a detailed plan and path forward to achieve it," he says. "Each division is being encouraged to leverage their strengths and eliminate distractions."
In terms of acquisitions and development, Watt will focus on workforce housing specifically, but Devereux is looking to tighten operations to accomplish those goals. "We are looking for bold ideas. I am also looking to find ways to do our jobs more efficiently by implementing process improvements and new technologies," he says. "Lastly, I want to work closely with our CEO to help promote the Watt Cos. role in helping our local communities through real estate development, investments, partnerships and philanthropy."
In the short-term, Devereux is looking to expand the team, but isn't ready to announce anything specific. "We are completing the five-year plan and fully expect to be growing the business units and hiring," he says. "At this time though, it is a bit premature to know exactly what that will look like."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Kelsi Maree Borland
