CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
CBL & Associates Properties, Inc. (NYSE: CBL), today announced that John
N. Foy has retired as an officer of the organization and as a director
and Vice Chairman of CBL’s Board of Directors. He will remain to assist
in this transition through the remainder of the year. Foy’s retirement
concludes a 44 year career with the CBL organization and its predecessor
company, including 19 years of service as a Director.
“Since John first joined my family’s shopping center development company
in 1968, his foresight and expertise has ensured that we were always in
a position of financial strength and able to pursue new growth
opportunities,” said Charles B. Lebovitz, chairman of the Board. “John
is well recognized and respected throughout the industry for his
financial discipline and creative leadership. The strength of character
with which John guides both his personal and professional life has
established a culture within the CBL organization of integrity and
excellence that will continue to guide our progress into the future. We
appreciate his many years of significant contributions and wish him good
health and continued success in his future endeavors.”
“I am proud of my role in helping to establish CBL as the remarkable
organization that it is today,” said John N. Foy. “After forty-four
years, the decision to retire isn’t easy, but I feel that we have a
great management team in place to continue CBL’s track record of
outstanding growth. I look forward to having the time to pursue new
interests and am confident that CBL will continue to produce excellent
results for its shareholders.”
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 interest in
or manages 162 properties, including 93 regional malls/open-air centers.
The properties are located in 27 states and total 92.9 million square
feet including 9.4 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.
CBL & Associates Properties, Inc.
Katie Reinsmidt,
423-490-8301
Senior Vice President - Investor Relations and
Corporate Investments
katie_reinsmidt@cblproperties.com
Source: CBL & Associates Properties, Inc.