CBL Properties Welcomes Jeff Kivitz to Its Board of Directors

Rhea-AI Summary

CBL Properties (NYSE: CBL) has appointed Jeff Kivitz to its board of directors, along with his roles in the compensation and nominating/corporate governance committees. CEO Stephen D. Lebovitz highlighted Kivitz's significant experience, especially through his role at Canyon Partners, CBL's primary shareholder. Kivitz, a Partner at Canyon Partners, previously worked at Bain & Company, advising on buyouts and corporate strategy. CBL owns a diverse portfolio of 95 retail properties across 24 states, encompassing 59.6 million square feet.

Positive

• Jeff Kivitz's extensive investment experience may contribute positively to maximizing shareholder value.
• His connection with Canyon Partners, CBL's top shareholder, could strengthen investor relations.

Negative

• The transition in board dynamics may introduce uncertainties regarding strategic continuity.

CHATTANOOGA, Tenn.--(BUSINESS WIRE)-- CBL Properties (NYSE: CBL) today announced that Jeff Kivitz has been appointed to the company’s board of directors. Mr. Kivitz was also appointed to serve as a member of the company’s compensation committee and nominating/corporate governance committee.

“Jeff brings great experience to CBL’s board of directors,” said Stephen D. Lebovitz, chief executive officer. “We have had the opportunity to get to know and work with Jeff through CBL’s restructuring and since emergence through his role at Canyon Partners, CBL’s current top shareholder. His extensive investment experience will be important as we continue our focus on maximizing value for our shareholders.”

Mr. Kivitz is a Partner with Canyon Partners, LLC. He is responsible for the firm’s investments in companies across the REIT, technology, software, building product, and retail sectors. Prior to joining Canyon, Mr. Kivitz worked as a consultant in both the private equity and general consulting practices at Bain & Company, where he acted as an advisor on buyout and corporate strategy. Mr. Kivitz graduated cum laude from Williams College (B.A., Economics).

About Canyon Partners LLC

Founded and partner owned since 1990, Canyon is a global alternative investment manager with eight offices worldwide. The firm employs a deep value, credit intensive approach with a focus on special situations and other complex investments. Canyon’s strategies encompass a broad range of asset classes, including specialty financings, distressed investments, corporate bonds, securitized assets, real estate, arbitrage, and value equities. For more information visit: www.canyonpartners.com

About CBL Properties

Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL’s owned and managed portfolio is comprised of 95 properties totaling 59.6 million square feet across 24 states, including 57 high-quality enclosed malls, outlet centers and lifestyle retail centers as well as more than 30 open-air centers and other assets. CBL seeks to continuously strengthen its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information visit 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” included therein, for a discussion of such risks and uncertainties.

CBL_Corp

View source version on businesswire.com: https://www.businesswire.com/news/home/20220810005528/en/

Investor Contact:

Katie Reinsmidt

EVP & Chief Investment Officer

423.490.8301

Katie.Reinsmidt@cblproperties.com



Media Contact:

Stacey Keating

Vice President, Corporate Communications

423.490.8361

Stacey.Keating@cblproperties.com

Source: CBL Properties

FAQ

What is the recent board change for CBL Properties?

CBL Properties has appointed Jeff Kivitz to its board of directors, which includes roles in the compensation and nominating committees.

What experience does Jeff Kivitz bring to CBL Properties?

Jeff Kivitz has extensive experience in investment management as a Partner at Canyon Partners and previously worked as a consultant at Bain & Company.

How might Jeff Kivitz's appointment impact CBL Properties?

His appointment may enhance shareholder value through his investment expertise and relationship with Canyon Partners.

What is CBL Properties' portfolio size and scope?

CBL Properties manages a portfolio of 95 properties totaling 59.6 million square feet across 24 states.