The Indianapolis-headquartered Simon Property Group Inc. (NYSE: SPG) announced the passing of 64-year-old David Simon, the company’s chairman of the board, CEO and president, on March 22 following a bout with cancer.
The company’s board of directors appointed Eli Simon as the new CEO and president; he will continue to serve as chief operating officer and director. Larry Glasscock has been appointed as non-executive chairman of the board consistent with these succession planning efforts and the Company’s Governance Principles.
Simon joined the company’s predecessor, Melvin Simon & Associates, as chief financial officer in 1990 after working as an investment banker at First Boston Corporation and then at Wasserstein Perella & Co. In 1993, he coordinated the company’s $1 billion initial public offering on the New York Stock Exchange. Two years later, he became CEO.
Under his leadership, Simon Property Group owned or held interests in more than 250 mall properties comprising over 200 million square feet across North America, Europe, and Asia, generating billions in annual revenue.
Until recently, Simon also served as chairman of the supervisory board of Klépierre, a publicly traded Paris-based retail real estate company, and he served on the board of Apollo Global Management, Inc.
The Simon family issued a statement that said, “Our family is deeply grateful for the tremendous outpouring of love and support we have received from across the globe. Our beloved husband, father, grandfather and brother poured his heart and soul into building Simon Property Group. He was most proud of his family, his wife of over 40 years Jackie, and their 5 children: Eli, Rebecca, Hannah, Sam and Noah, and 7 grandchildren. We ask for privacy as we grieve our great loss.”
0 Comments