CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
CBL & Associates Properties, Inc. (NYSE: CBL) today announced that Gary
Nay has been elected to its Board of Directors. Nay fills the vacancy
created with the retirement of Leo Fields, who served on CBL’s Board of
Directors since its IPO in 1993.
Nay served as Vice President of Real Estate of Macy’s, Inc. and its
predecessor, Federated Department Stores, from 1988 through his
retirement in February 2010. As head of Real Estate at Federated/Macy’s,
Nay led the growth of the company’s portfolio from 220 stores to 850
Macy’s and Bloomingdale’s stores across 45 states, Puerto Rico and Guam,
generating more than $24 billion in sales. From 1980 to 1988, Nay served
as Divisional Vice President of Real Estate for Mervyn’s, then a
subsidiary of Dayton Hudson Corporation, during which time he was
responsible for Mervyn’s expansion to the East Coast, opening 76 stores
from Texas to Florida. Nay has served on the Board of Trustees of the
International Council of Shopping Centers (“ICSC”), including positions
on the Executive Committee and as former Dean of the School of Retailing
for ICSC’s University of Shopping Centers. He also serves as a director
of the Dan Beard Council of The Boy Scouts of America and has previously
held positions on the Strategic Planning Committee and as past
Co-Chairman of the Friends of Scouting campaign. Nay holds a B.A. degree
from the University of North Texas.
“Gary is very well respected throughout the shopping center industry
from his career at Macy’s/Federated and we are confident that his
expertise in retail will be of tremendous value,” stated Charles B.
Lebovitz, Chairman of the Board for CBL & Associates Properties, Inc.
“He is certain to bring a unique and meaningful perspective. We look
forward to Gary’s contribution to the continued success of our company.”
About CBL & Associates Properties, Inc.
CBL is one of the largest and most active owners and developers of malls
and shopping centers in the United States. CBL owns, holds interests in
or manages 157 properties, including 85 regional malls/open-air centers.
The properties are located in 26 states and total 84.9 million square
feet including 3.4 million square feet of non-owned shopping centers
managed for third parties. Headquartered in Chattanooga, TN, CBL has
regional offices in Boston (Waltham), MA, Dallas (Irving), TX, and St.
Louis, MO. Additional information can be found at cblproperties.com.
Information included herein contains "forward-looking statements"
within the meaning of the federal securities laws.Such
statements are inherently subject to risks and uncertainties, many of
which cannot be predicted with accuracy and some of which might not even
be anticipated.Future events and actual events, financial and
otherwise, may differ materially from the events and results discussed
in the forward-looking statements.The reader is directed to the
Company's various filings with the Securities and Exchange Commission,
including without limitation the Company's Annual Report on Form 10-K
and the "Management's Discussion and Analysis of Financial Condition and
Results of Operations" incorporated by reference therein, for a
discussion of such risks and uncertainties.
Source: CBL & Associates Properties, Inc.
Contact:
CBL & Associates Properties, Inc.
Katie Reinsmidt, 423-490-8301
Vice
President - Corporate Communications and Investor Relations
katie_reinsmidt@cblproperties.com