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CBL Properties (OTCMKTS:CBLAQ) announced a series of promotions, including two to Executive Vice President and six to Senior Vice President, as part of its restructuring efforts ahead of emerging from bankruptcy on November 1. CEO Stephen D. Lebovitz emphasized the depth of leadership within the company and the contributions of the promoted individuals. The promotions aim to position CBL to capitalize on opportunities arising from the restructuring, as the company owns a national portfolio of 105 properties totaling 63.9 million square feet across 24 states.
Positive
Promotions may strengthen leadership as CBL prepares to emerge from bankruptcy.
New executive appointments aim to enhance operational efficiency and strategic focus.
Negative
Emerging from bankruptcy raises concerns about continuity and stability.
Potential experience gaps due to internal promotions may affect investor confidence.
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
CBL Properties (OTCMKTS:CBLAQ) today announced a number of promotions including two promotions to Executive Vice President and six to Senior Vice President as well as eight new Vice Presidents.
“As we prepare to emerge from bankruptcy on November 1, we are taking steps to best position the CBL organization to capitalize on the new opportunities this restructure will provide,” commented Stephen D. Lebovitz, chief executive officer of CBL Properties. “We are pleased to announce these promotions which recognize the significant depth and breadth of leadership within the CBL organization. These individuals have made important contributions to the company and have established themselves as leaders within the organization, the industry, and the community.”
Andrew Cobb was promoted to Executive Vice President – Accounting after serving as Senior Vice President and Director – Accounting since February 2015. Cobb joined the organization in June 2002 as Vice President. Prior to joining CBL, he was with Arthur Anderson LLP. He also serves as a member of the Company's Benefits Committee, which oversees the administration of CBL’s 401(k) plan.
Howard Grody was promoted to Executive Vice President – Leasing after serving as Senior Vice President – Leasing, a position he has held since 2008. Grody joined CBL in 1991 as a leasing manager and was promoted to Vice President – Mall Leasing in 2000. Prior to joining CBL, he worked with Sizeler Real Estate Properties.
Rusty Carlton was promoted to Senior Vice President – Accounting after serving as Vice President since February 2016. Carlton joined CBL in 2008 as a property accountant focused on JV projects. In 2019 he was promoted to director and in 2015 assumed the role of head of the Portfolio Accounting Services Group. Prior to joining CBL, he was a senior accountant with Neal, Scouten & McConnell, P.C.
Maggie Carrington was promoted to Senior Vice President – People & Culture after serving as Vice President since 2009. Carrington Joined CBL in 1999 and since has been responsible for managing the Company’s employee programs including development and training, education, and other key human resource initiatives. She co-chairs CBL Community and specializes in creating a progressive and enriching work environment.
Jeff Gregerson was promoted to Senior Vice President – Specialty Leasing after serving as Vice President since 2002. Gregerson joined CBL in 1994 to develop its Specialty Leasing Department after starting his career on the retail side of the business. He has served on the ICSC Specialty Leasing Conference Committee for several years and has been a speaker at numerous ICSC functions.
Eric Griffith was promoted to Senior Vice President – Leasing after serving as Vice President, a position he has held since February 2016. Griffith joined CBL in 2004 as a senior leasing manager and was promoted to regional leasing manager in 2007. Prior to joining CBL, he worked for Pennsylvania Real Estate Trust (PREIT).
Mary Lynn Morse was promoted to Senior Vice President – Marketing after serving as Vice President since 2019. Morse joined CBL in 1995 as a marketing director and shortly after was promoted to regional marketing director. In 2001, she relocated to CBL’s corporate office and has been leading the marketing team since 2014.
David Neuhoff was promoted to Senior Vice President – Redevelopment after serving as Vice President, a position he has held since 2011. Neuhoff joined CBL in 1998 as a leasing manager in the Denver office. In 2003, he relocated to CBL’s headquarters in Chattanooga to join the development division working on new developments, redevelopments, and development leasing.
Heidi Cardall, SLD, was promoted to Vice President – Specialty Leasing after most recently serving as Senior Director. Cardall joined CBL in 1998 after working on the retail side of the business executing merchandising programs with Zales, the Mills Corporation, and Mainstreet Retail.
Lisa Harper, SLD, was promoted to Vice President – Specialty Leasing after most recently serving as Senior Director. Harper joined CBL with the acquisition of Richland Mall in Waco, Texas, in 2002, where she held the position of Assistant General Manager. In 2006, she became a regional specialty retail manager and later moved to CBL’s home office in Chattanooga.
Sandy Heymann, CMD, was promoted to Vice President – Marketing after most recently serving as Senior Director. Heymann joined the CBL team when Fayette Mall in Lexington, Kentucky, was acquired in February 2001. Shortly after, she assumed the role of Regional Director – Marketing and relocated to Pittsburgh, Pennsylvania, before moving to Chattanooga to join CBL’s corporate marketing team. In addition to contributing to the strategic direction and leadership of marketing at the property level, Heymann also co-chairs CBL Fit, an employee-driven committee focused on the health and wellbeing of the whole person at work.
Lewis Hilton was promoted to Vice President – Redevelopment after most recently serving as Senior Director. Hilton joined CBL as a leasing manager in 1999 after holding positions with Harrison Fulfillment Services and Witt, Gaither & Whitaker. Over his two decades with CBL, he has held several positions in leasing and recently shifted his focus to development leasing.
Matt Holligan was promoted to Vice President – Management after serving as Senior Director since 2020. Holligan joined CBL in 2001 as Assistant General Manager at Post Oak Mall in College Station, Texas, after previously working on the retail side of the business as both a facility manager and a store manager. In 2003, he relocated to Fayetteville, North Carolina and assumed the role of General Manager of Cross Creek Mall. In 2012, he was promoted and relocated to CBL’s home office in Chattanooga. In addition to providing leadership to one-third of CBL’s portfolio, he also serves on CBL’s ESG Team with a focus on sustainability.
Allison Houghton, CPA, was promoted to Vice President – Accounting after most recently serving as Senior Director. Houghton joined CBL in 2016 as Director – Accounting having previously served as Director of Finance & Treasury at Miller Industries, Senior Accountant at ORNDA HealthCorp and manager at Ernst & Young.
Stacey Keating was promoted to Vice President – Corporate Communications after serving as Senior Director since 2019. Keating joined CBL in 2011 as a regional marketing specialist at Monroeville Mall and relocated to CBL’s corporate office in 2015 as a corporate marketing specialist and was subsequently promoted to Director and then Senior Director. In addition to handling external communications for CBL, she chairs CBL Cares, co-chairs CBL Community, sits on CBL’s ESG Team and serves on the Emerging Leaders Leadership Committee for United Way of Greater Chattanooga.
Tripp Wingo, CPA, was promoted to Vice President – Accounting. Wingo joined CBL in 2017 as a Senior Financial Reporting Analyst and in 2019 was promoted to Director. Prior to joining CBL, he held positions at Kroger and Unum. He leads the team handling CBL’s SEC filings as well as handling the review of technical accounting matters.
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 portfolio is comprised of 105 properties totaling 63.9 million square feet across 24 states, including 63 high-quality enclosed, outlet and open-air retail centers and six properties managed for third parties. 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.
What management changes did CBL Properties announce?
CBL Properties announced multiple promotions, including two to Executive Vice President and six to Senior Vice President, to enhance leadership ahead of bankruptcy emergence.
When is CBL Properties expected to emerge from bankruptcy?
CBL Properties is expected to emerge from bankruptcy on November 1.
How many properties does CBL Properties manage?
CBL Properties manages a portfolio of 105 properties totaling 63.9 million square feet across 24 states.
What is the significance of the recent promotions at CBL Properties?
The promotions are intended to position CBL Properties to capitalize on new opportunities following its restructuring after bankruptcy.
