Jarrett E. Woods Jr. will resign as chairman and chief executive of Christiana Co., a spokesman for Woods said Monday.
Woods, who two weeks ago saw his wholly owned, Dallas-based Western Savings & Loan seized by federal regulators, decided late last week to resign from Christiana, spokesman Ken Fairchild said.
Raymond Logan, executive vice president of the San Diego-based real-estate development company, said, "I haven't seen anything in writing yet, but we're meeting in a telephonic board session" this morning.
Woods--who accumulated a 39% ownership stake in Christiana through his ownership of the now-failed S&L in Dallas--asked a U.S. District Court judge Monday in Dallas to prohibit the government from disposing of Western's assets, Fairchild said.
On July 1, Bernard Carrico Jr., a former Western S&L officer, resigned as Christiana's president and chief operating officer.