Howard Hughes Holdings Inc. (HHH), on Monday announced the appointment of Marc Grandisson to its Board of Directors, effective May 7.
Marc Grandisson previously served as Chief Executive Officer of Arch Capital Group Ltd. (ACGLO, ACGL) from 2018 until his retirement in 2024 and was part of the company's founding team.
The appointment comes as the company prepares to close its acquisition of Vantage Group Holdings, which is expected to support its transition into a diversified holding company.
Grandisson will invest $10 million to purchase warrants on 1,131,273 shares of Howard Hughes common stock at a strike price of $100 per share, with a five-year term.
The company said the appointment is expected to support its long-term strategy and create shareholder value.
On Friday, Howard Hughes Holdings is 0.36% lesser at $65.70 on the New York Stock Exchange.
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