WCI gets takeover director

A Carl Icahn-sponsored director has joined the board of WCI Communities Inc., the Bonita Springs-based builder that succumbed to the housing downturn and filed for Chapter 11 bankruptcy protection earlier this month.

Vincent Intrieri replaces David Schechter, another Icahn appointee who resigned from WCI's board last week.

Icahn had previously attempted a takeover of WCI, but settled for a position as its chairman and the right to appoint members of its board.

Since July 2006, Intrieri has been a director of Icahn Enterprises G.P. Inc., the general partner of Icahn Enterprises L.P., a diversified holding company engaged in a variety of businesses, including investment management, metals, real estate and home fashion.

Intrieri also is senior managing director of Icahn Capital LP, the entity through which Icahn manages third-party private investment funds. Intrieri also is senior managing director of Icahn Associates Corp. and High River Limited Partnership, entities that hold and invest in securities.

Schechter, a board member since August 2007, was a member of the WCI's nominating/corporate governance committee. In a filing with the U.S. Securities and Exchange Commission, Schechter said his "resignation was not due to a disagreement with the company or its policies."

WCI is the developer of Tidewater Preserve and Waterlefe in Manatee County and the Venetian Golf & River Club in Venice.

The company's shares, which trade on the Pink Sheets, were selling for 22 cents at the close of regular trading on Tuesday, down 3 cents.