South Bend-based Holladay Properties has promoted Tim Healy to president and chief executive officer. He replaces John Phair, who is stepping down after 20 years to become chairman and chief development officer.

Healy has served as chief operating officer since 2017.  He has been with the company for 20 years and led the Portage Office for 17 of those years.

In his new role, Phair will oversee all new real estate development activity, including renovations, ground up development or substantial rehabilitations.