Irvine Co. CEO retires

After being promoted to chief executive for the Irvine Co. about a year ago, one of the top executives at the real estate giant has decided to retire.

Michael D. McKee, 62, was the first company official to hold the position of chief executive in more than 30 years and was promoted to that position June 13, 2007, to take over day-to-day operations.

“What I really want to do is pursue my board work and charity work,” said McKee, who plans to take a more prominent role in the charitable organizations he is a part of, such as the Tiger Woods Foundation.

The decision wasn’t a sudden one and due to the Irvine Co.’s strong standing, McKee thought he could move on without disrupting the company and he could pursue other life goals, he said.

“There is no trouble at the Irvine Co.,” McKee said. “I don’t feel the place is going to be let down if I am not there.”

McKee, a longtime senior executive at the company, came aboard in 1994 as the chief legal officer.

He served in various positions over the next 14 years, including chief financial officer and chief operating officer. He was named to the board of directors in 1999 and served as vice chairman. He was previously the managing partner of Latham & Watkins, an international law firm based in Orange County.

“Mike McKee has provided wise, strategic counsel and leadership as he has expanded his role over the years with the company,” Chairman Donald Bren said in a memo to employees.

Some highlights of McKee’s time at the Irvine Co. include the sale of Community Cablevision to Times Mirror Corporation as well as the public offering of the Irvine Apartment Communities.

While it was barely a year ago that McKee took over as chief executive, he said the position was more of a reward to him for his long service to the company, but the move didn’t involve a change in job duties from his position of chief operating officer.

There are no plans to replace McKee as chief executive, McKee said. Instead, Dan Young will stay on to lead the Irvine Community Development Company and Rick Gilchrist will manage the Investment Properties Group. Donald Bren will also maintain a strong role, officials said.

DANIEL TEDFORD may be reached at (714) 966-4632 or at daniel.tedford@latimes.com.