Macerich Announces Appointment of Devin Murphy to Board of Directors
Macerich (NYSE: MAC) has appointed Devin Murphy to its Board of Directors, effective February 1, 2025, expanding the board to nine directors with eight being independent. Murphy brings significant retail REIT experience, having served as President of Phillips Edison & Company (PECO) from 2019 to 2024 and CFO for six years prior. He also brings nearly three decades of investment banking experience, including senior roles at Morgan Stanley and Deutsche Bank, where he led over 500 transactions worth more than $400 billion as Global Head of Real Estate Investment Banking.
The appointment aligns with Macerich's Path Forward plan, launched in May, which focuses on simplifying business operations, improving performance, and reducing leverage. Murphy currently serves as a Senior Advisor to Fifth Wall and as a Director of CoreCivic, bringing additional governance experience to the board.
Macerich (NYSE: MAC) ha nominato Devin Murphy nel suo Consiglio di Amministrazione, con effetto dal 1 febbraio 2025, ampliando il consiglio a nove membri, di cui otto indipendenti. Murphy porta con sé una significativa esperienza nel settore REIT retail, avendo ricoperto il ruolo di Presidente di Phillips Edison & Company (PECO) dal 2019 al 2024 e CFO per sei anni prima. Inoltre, vanta quasi tre decenni di esperienza nell'investment banking, inclusi ruoli di alto livello presso Morgan Stanley e Deutsche Bank, dove ha guidato oltre 500 transazioni per un valore superiore a 400 miliardi di dollari come Global Head of Real Estate Investment Banking.
La nomina è in linea con il Path Forward plan di Macerich, lanciato a maggio, che si concentra sulla semplificazione delle operazioni aziendali, sul miglioramento delle performance e sulla riduzione dell'indebitamento. Murphy attualmente funge da Senior Advisor per Fifth Wall e come Direttore di CoreCivic, portando ulteriore esperienza di governance al consiglio.
Macerich (NYSE: MAC) ha nombrado a Devin Murphy en su Junta Directiva, con efecto a partir del 1 de febrero de 2025, ampliando la junta a nueve directores, de los cuales ocho son independientes. Murphy aporta una importante experiencia en REIT minoristas, habiendo sido Presidente de Phillips Edison & Company (PECO) desde 2019 hasta 2024 y CFO durante seis años antes de eso. También cuenta con casi tres décadas de experiencia en banca de inversión, incluyendo roles senior en Morgan Stanley y Deutsche Bank, donde lideró más de 500 transacciones por un valor superior a 400 mil millones de dólares como Global Head of Real Estate Investment Banking.
El nombramiento se alinea con el Path Forward plan de Macerich, lanzado en mayo, que se centra en simplificar las operaciones comerciales, mejorar el rendimiento y reducir el apalancamiento. Murphy actualmente se desempeña como Asesor Senior para Fifth Wall y como Director de CoreCivic, aportando experiencia adicional en gobernanza a la junta.
메이서리치 (NYSE: MAC)는 Devin Murphy를 이사회의 이사로 임명하였으며, 이는 2025년 2월 1일부터 효력이 발생하며, 이사회는 독립적인 8명의 이사를 포함해 총 9명의 이사로 확대됩니다. 머피는 2019년부터 2024년까지 필립스 에디슨 & 컴퍼니(PECO)의 사장으로 재직하며 소매 REIT 분야에서 풍부한 경험을 쌓았고, 그 이전 6년 동안 CFO로 활동했습니다. 또한 그는 모건 스탠리와 도이치 은행에서 높은 역할을 맡으며 투자은행 분야에서 거의 30년의 경험을 가지고 있으며, 글로벌 부동산 투자은행 부서장을 맡아 4000억 달러 이상의 500건 이상의 거래를 이끌었습니다.
이번 임명은 메이서리치의 Path Forward plan과 일치하며, 이는 5월에 발표된 것으로 비즈니스 운영을 단순화하고 성과를 개선하며 레버리지를 줄이는 데 중점을 둡니다. 머피는 현재 Fifth Wall의 선임 고문으로 활동하며 CoreCivic의 이사로도 재직하고 있어 이사회에 추가적인 지배 구조 경험을 제공합니다.
Macerich (NYSE: MAC) a nommé Devin Murphy au sein de son Conseil d'Administration, avec effet à partir du 1er février 2025, élargissant le conseil à neuf membres, dont huit indépendants. Murphy apporte une expérience significative dans le domaine des REIT de détail, ayant été Président de Phillips Edison & Company (PECO) de 2019 à 2024 et CFO pendant six ans auparavant. De plus, il possède près de trois décennies d'expérience en banque d'investissement, incluant des postes de direction chez Morgan Stanley et Deutsche Bank, où il a dirigé plus de 500 transactions d'une valeur supérieure à 400 milliards de dollars en tant que Global Head of Real Estate Investment Banking.
La nomination s'inscrit dans le cadre du Path Forward plan de Macerich, lancé en mai, qui vise à simplifier les opérations commerciales, améliorer la performance et réduire l'endettement. Murphy est actuellement Senior Advisor pour Fifth Wall et Director de CoreCivic, apportant ainsi une expérience de gouvernance supplémentaire au conseil.
Macerich (NYSE: MAC) hat Devin Murphy in seinen Vorstand berufen, der am 1. Februar 2025 in Kraft tritt, wodurch sich die Anzahl der Vorstandsmitglieder auf neun erhöht, wovon acht unabhängig sind. Murphy bringt eine bedeutende Erfahrung im Einzelhandels-REIT-Bereich mit, da er von 2019 bis 2024 Präsident von Phillips Edison & Company (PECO) war und zuvor sechs Jahre CFO war. Zudem verfügt er über fast drei Jahrzehnte Erfahrung in der Investmentbanking-Branche, darunter leitende Positionen bei Morgan Stanley und Deutsche Bank, wo er als Global Head of Real Estate Investment Banking über 500 Transaktionen im Wert von mehr als 400 Milliarden Dollar leitete.
Die Ernennung steht im Einklang mit dem Path Forward plan von Macerich, der im Mai gestartet wurde und sich auf die Vereinfachung der Geschäftsabläufe, die Verbesserung der Leistung und die Reduzierung der Verschuldung konzentriert. Murphy ist derzeit Senior Advisor bei Fifth Wall und Direktor bei CoreCivic, was zusätzliche Governance-Erfahrung in den Vorstand einbringt.
- Addition of experienced REIT executive with both operational and investment banking expertise
- Strengthening of board independence (8 out of 9 directors are independent)
- Strategic alignment with company's Path Forward plan for improved performance
- None.
Murphy Previously Served as President of Phillips Edison & Company (NASDAQ: PECO), One of the Nation’s Largest Owners and Operators of Grocery-anchored Neighborhood Shopping Centers; Brings Nearly Three Decades of Investment Banking Experience to the Board
SANTA MONICA, Calif., Jan. 24, 2025 (GLOBE NEWSWIRE) -- Macerich (NYSE: MAC), one of the nation’s leading owners, operators and developers of major retail properties in top markets, today announced the appointment of Devin Murphy to its Board of Directors, effective February 1, 2025.
With the addition of Mr. Murphy, Macerich’s Board will have nine directors, eight of whom are independent.
A seasoned retail REIT executive, Mr. Murphy served for more than a decade at Phillips Edison & Company (PECO), one of the nation’s largest owners and operators of grocery-anchored neighborhood shopping centers. Mr. Murphy served as PECO’s President from 2019 until 2024. He was the company’s CFO for six years prior to becoming President in 2019. Mr. Murphy was elected to the Board of Directors of PECO, a NASDAQ-listed REIT, in July 2024.
Before joining PECO in 2013, Mr. Murphy worked for 28 years as an investment banker and held senior leadership roles at Morgan Stanley and Deutsche Bank. He was the Global Head of Real Estate Investment Banking at Deutsche Bank, where his team executed over 500 transactions, representing total transaction volume over
“On behalf of my fellow board members, we are incredibly pleased to welcome Devin to the Macerich Board,” said Jack Hsieh, President and CEO, Macerich. “Devin is a highly respected leader within the REIT industry, and he brings a wealth of experience and strategic counsel as we execute on the Path Forward plan. I look forward to working with Devin as we continue to execute on all our strategic priorities.”
Last May, Macerich launched its detailed Path Forward plan designed to lead the company to elevated performance and forward its mission to add long-term value for shareholders, partners, and customers. Macerich’s three-part plan is focused on simplifying its business, improving operational performance and reducing leverage.
“I am honored by the opportunity to join the Macerich Board as the company further positions itself as an industry leader under Jack’s steady guidance,” said Mr. Murphy. “I look forward to bringing my expertise in both the REIT and investment space in supporting the success of Macerich’s well-crafted Path Forward strategy that concentrates the portfolio on its best properties and a substantially stronger balance sheet.”
Mr. Murphy currently serves as a Senior Advisor to Fifth Wall, the largest venture capital firm focused on the global real estate industry. He is also a Director of CoreCivic, a NYSE-listed, diversified government solutions company, where he serves on the Audit and Risk committees and chairs the Nominating and Governance committee.
Mr. Murphy earned a B.A. in English and History with Honors from the College of William and Mary and an MBA from the University of Michigan.
About Macerich
Macerich is a fully integrated, self-managed, self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 43 million square feet of real estate, consisting primarily of interests in 40 retail centers. Macerich is firmly dedicated to advancing environmental goals, social good, and sound corporate governance. A recognized leader in sustainability, Macerich has achieved a #1 Global Real Estate Sustainability Benchmark (GRESB) ranking for the North American retail sector for ten consecutive years (2015-2024). For more information, please visit www.Macerich.com.
Macerich uses, and intends to continue to use, its Investor Relations website, which can be found at investing.macerich.com, as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Additional information about Macerich can be found through social media platforms such as LinkedIn. Reconciliations of non-GAAP financial measures, including NOI and FFO, to the most directly comparable GAAP measures are included in the earnings release and supplemental filed on Form 8-K with the SEC, which are posted on the Investor Relations website at investing.macerich.com.
MAC-I
SOURCE: Macerich
INVESTOR CONTACT: Samantha Greening, AVP Investor Relations, Samantha.Greening@macerich.com
MEDIA CONTACT: Arun Khosla, VP Corporate Communications, Arun.Khosla@macerich.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a9ae1e5-0f97-4988-9aef-f44ef2e2a4ed
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