The Carl M. Freeman Companies, based in Olney, Md., suffered the tragic loss of their chairman and CEO Joshua M. Freeman on Dec. 14 and have named Stephen B. Huttler as chairman of the board and Frank G. Edwards as president to lead the established Mid-Atlantic real estate business.
“The Carl M. Freeman Companies had a plan in place to ensure that the rich history, legacy and business operations would continue without interruption,” commented Huttler. “Frank Edwards, along with the existing management team, is prepared to confidently lead the Carl M. Freeman Companies as we approach the company’s 60-year anniversary in 2007.”
Edwards, formerly senior vice president and chief financial officer, joined the Carl M. Freeman Companies in 1999 and has 31 years of professional experience, including 25 years of involvement with the real estate industry.
Most recently, he served as senior vice president and chief financial officer of the Carl M. Freeman Companies, also managing many of the operational aspects of the organization including having line management responsibility for the company’s real estate services and sports & hospitality business segments.
His role as CFO included managing the company’s financial affairs, strategic planning initiatives, human resources, information technology and legal/risk management functions.
Prior to joining the Freeman Companies, Edwards served as the chief operating officer of Interealty Inc. and held a number of senior management positions within the Commercial & International Systems Group of PRC Inc., including the role of CFO of the commercial business segment from 1984 until 1994. Edwards was instrumental in the start-up and growth of the Commercial & International Systems Group.
The Carl M. Freeman Companies also appointed Michelle DiFebo Freeman, Josh Freeman’s widow, as a board member.
“Michelle’s real estate industry experience and embodiment of Josh’s vision and ideals make her invaluable as we continue the company’s tradition of being a very special, community-focused organization. Josh considered all who worked with him to be like family and I know his values, vision and spirit will continue under the company’s leadership,” added Huttler.
Huttler is the executive vice chair of the Pillsbury Winthrop Shaw Pittman law firm and has been a long-time advisor and the primary legal counsel to Joshua M. Freeman and the Carl M. Freeman Companies. Huttler will be continuing his position at Pillsbury Winthrop Shaw Pittman, while also serving as the chairman of the board of the Freeman Companies.
The Board of Directors of the Carl M. Freeman Companies also includes veteran advisers Richard Perlmutter, Robert Siegel and Tom Aiello.
Established in 1947, the Carl M. Freeman Companies are the developers and managers of award-winning resort communities, golf courses and neighborhood shopping centers. They also own and operate the Historic Tidewater Inn, several restaurants and businesses engaged in providing real estate brokerage, management, mortgage banking and settlement services throughout the Mid-Atlantic.
The background
Frank Edwards has been named president of the Carl M. Freeman Companies. Prior to this announcement he served as senior vice president and chief financial officer of the Carl M. Freeman Companies.
In addition to the traditional role of a CFO, Edwards also held line management responsibilities for the operations of the company’s real estate services and sports and hospitality business segments and oversaw the company’s strategic planning, legal, human resources and information technology functions.
Since joining the company in 1999, Edwards launched the company’s real estate services business segment with the formation of Atlantic Community Title Services and the acquisitions of Seacoast Realty and First Republic Mortgage Corp.
He established the organizational and management structure for the sports and hospitality business segment and was instrumental in the acquisition of the company’s Coolfont property in Berkeley Springs, W.Va., and the acquisition and redevelopment vision of the Historic Tidewater Inn and Restaurant Local in Easton, Md.
Edwards also led a complete transformation of the Freeman Companies’ information technology and accounting organization systems and processes to support and facilitate the companies’ rapid growth and diversification, established an in-house legal department and led a recent re-branding initiative.
Before joining the Freeman Companies, Edwards served as the chief operating officer of Interealty Inc., which was owned by a consortium of the Tribune Company, Cox Enterprises, Knight-Ridder and Advance Publications Inc., with operations in 43 states and Canada.
Initially, he managed the strategic planning, human resources, finance and management information systems (MIS) functions, and later assumed responsibility for the company’s marketing and sales, research and development, printing and technical delivery organizations. Edwards’ involvement with Interealty and its predecessor organizations spanned 17 years.
Edwards held several senior management positions with PRC Inc. starting in 1982 and served as chief financial officer of the Commercial & International Systems Group of PRC Inc. from 1984 until 1994. (PRC Inc. was an NYSE publicly traded company, which later became a subsidiary of The Black & Decker Corporation.)
Edwards was instrumental in the start-up and growth of the Commercial & International Systems Group and had extensive involvement with strategy formulation and business acquisitions He performed audit and management consulting services for the Washington, D.C., office of Touche Ross & Co. from 1976 until 1982 serving clients such as Ryland Homes and the Montgomery and Prince Georges County, Md., governments.
Edwards earned his bachelor of science degree from the University of Maryland, College Park, graduating magna cum laude in 1975. He became a Certified Public Accountant in 1976. He has also completed the American Management Association’s Executive Development Seminar and continues to pursue professional development education opportunities in the fields of real estate, finance, technology leadership and business general management.
Edwards was a speaker and panelist for the RIS Media Annual Leadership Conference in 2005, addressing the topic of real estate companies expanding into peripheral financial services businesses. Additionally, he is a member of the American Institute of Certified Public Accountants and the Maryland Association of Certified Public Accountants.