Smith Resigns; Founder to Assume Koll Co. Presidency

Marion G. Smith, hired about 3 1/2 years ago to lead the Koll Co. into new building and development operations, has resigned as president of the Newport Beach development company.

His position will be assumed by Donald M. Koll, the company’s founder, chairman and chief executive. Koll had served as president before hiring Smith to take over those day-to-day duties.

Neither Smith, who is on vacation, nor Koll could be reached for comment. Smith resigned last Thursday to pursue other business opportunities, said Joyce Ziemer, a company spokeswoman. She described the resignation as “totally voluntary” and said Koll and others at the privately company had “no disappointments” over his performance.

Smith’s departure will not slow down the expansionist activities he helped to generate, Ziemer said. Under Smith, the company formed a division to acquire properties nationwide and launched offices in the Los Angeles and San Francisco Bay areas.

Since hiring Smith in October, 1983, the Koll firm’s annual revenues have jumped to $400 million from $150 million, and its real estate portfolio has ballooned to $2.7 billion from $1.2 billion.

Total office space the company has built and is operating has grown to 25 million square feet from 14 million square feet and the number of employees has risen to 760 from 350.

Smith had been an executive vice president of NLT Corp. in Nashville and president of its real estate development subsidiary. NLT, with interests in real estate, insurance and hotels, was purchased in November, 1982, by American General Corp. in Houston.

The Koll Co. has branches throughout California and in Seattle, Portland and Phoenix. But one-third of its office space is in Orange County, where the $1-billion Koll Center Irvine is the company’s biggest project, Ziemer said.