Macerich Announces the Return of Diana M. Laing to Board of Directors
Macerich (NYSE: MAC), a leading retail property owner and operator, has announced the appointment of Diana M. Laing to its Board of Directors. Laing, who previously served on Macerich's Board from 2003 to 2022, brings over 35 years of experience in real estate investment and operations. Her expertise spans corporate strategy, risk management, finance, and corporate governance.
With Laing's addition, Macerich's Board now consists of eight directors, seven of whom are independent. This move aligns with Macerich's recently launched Path Forward plan, which aims to simplify the business, improve operational performance, and reduce leverage. The plan focuses on concentrating the portfolio on thriving centers and strengthening the company's balance sheet.
Macerich (NYSE: MAC), un importante proprietario e gestore di immobili commerciali, ha annunciato l'appuntamento di Diana M. Laing nel suo Consiglio di Amministrazione. Laing, che ha precedentemente fatto parte del Consiglio di Macerich dal 2003 al 2022, porta con sé oltre 35 anni di esperienza negli investimenti e nelle operazioni immobiliari. La sua esperienza spazia dalla strategia aziendale alla gestione del rischio, finanza e governance aziendale.
Con l'aggiunta di Laing, il Consiglio di Macerich è ora composto da otto direttori, sette dei quali sono indipendenti. Questa mossa si allinea con il piano Path Forward recentemente lanciato da Macerich, il quale mira a semplificare l'attività, migliorare le prestazioni operative e ridurre il leverage. Il piano si concentra sul concentrare il portafoglio su centri di successo e rafforzare il bilancio dell'azienda.
Macerich (NYSE: MAC), un importante propietario y operador de propiedades comerciales, ha anunciado el nombramiento de Diana M. Laing en su Junta Directiva. Laing, que anteriormente formó parte de la Junta de Macerich desde 2003 hasta 2022, aporta más de 35 años de experiencia en inversiones y operaciones inmobiliarias. Su experiencia abarca estrategia corporativa, gestión de riesgos, finanzas y gobernanza corporativa.
Con la incorporación de Laing, la Junta de Macerich ahora consta de ocho directores, siete de los cuales son independientes. Este movimiento se alinea con el recientemente lanzado plan Path Forward de Macerich, que tiene como objetivo simplificar el negocio, mejorar el rendimiento operativo y reducir el apalancamiento. El plan se centra en concentrar la cartera en centros prósperos y fortalecer el balance de la empresa.
마세리치(Macerich; NYSE: MAC)는 주요 상업용 부동산 소유주 및 운영자로서 다이애나 M. 레인(Diana M. Laing)을 이사회에 임명했다고 발표했습니다. 레인은 2003년부터 2022년까지 마세리치 이사로 활동했으며, 35년 이상의 부동산 투자 및 운영 경험을 가지고 있습니다. 그녀의 전문성은 기업 전략, 리스크 관리, 금융 및 기업 거버넌스에 걸쳐 있습니다.
레인의 합류로 마세리치 이사회는 현재 여덟 명의 이사로 구성되었으며, 그 중 일곱 명은 독립적입니다. 이번 결정은 마세리치의 최근에 출시된 경로 정리 계획(Path Forward plan)와 일치하며, 이는 비즈니스를 간소화하고 운영 성과를 개선하며 레버리지를 줄이는 것을 목표로 합니다. 이 계획은 포트폴리오를 번성하는 센터에 집중하고 회사의 재무 상태를 강화하는 데 중점을 두고 있습니다.
Macerich (NYSE: MAC), un propriétaire et opérateur d'immobilier commercial de premier plan, a annoncé la nomination de Diana M. Laing à son conseil d'administration. Laing, qui a précédemment siégé au conseil de Macerich de 2003 à 2022, apporte plus de 35 ans d'expérience dans l'investissement immobilier et les opérations. Son expertise couvre la stratégie d'entreprise, la gestion des risques, les finances et la gouvernance d'entreprise.
Avec l'ajout de Laing, le conseil d'administration de Macerich compte désormais huit directeurs, dont sept sont indépendants. Cette décision s'inscrit dans le cadre du plan Path Forward récemment lancé par Macerich, qui vise à simplifier les opérations, améliorer la performance opérationnelle et réduire l'endettement. Ce plan se concentre sur la concentration du portefeuille sur des centres performants et le renforcement du bilan de l'entreprise.
Macerich (NYSE: MAC), ein führender Eigentümer und Betreiber von Einzelhandelsimmobilien, hat Diana M. Laing in seinen Vorstand berufen. Laing, die zuvor von 2003 bis 2022 im Vorstand von Macerich tätig war, bringt über 35 Jahre Erfahrung in der Immobilieninvestition und -operation mit. Ihre Expertise umfasst Unternehmensstrategie, Risikomanagement, Finanzwesen und Unternehmensführung.
Mit Laings Hinzufügung besteht der Vorstand von Macerich jetzt aus acht Direktoren, von denen sieben unabhängig sind. Dieser Schritt steht im Einklang mit Macerichs kürzlich gestarteten Path Forward-Plan, der darauf abzielt, das Geschäft zu simplifizieren, die Betriebsabläufe zu verbessern und die Verschuldung zu reduzieren. Der Plan konzentriert sich darauf, das Portfolio auf florierende Zentren zu konzentrieren und die Bilanz des Unternehmens zu stärken.
- Appointment of experienced board member Diana M. Laing, bringing 35+ years of real estate expertise
- Alignment with Macerich's Path Forward plan for improved performance and shareholder value
- Increase in board independence with 7 out of 8 directors now independent
- None.
Laing Previously Served on Macerich Board from 2003-2022; Was Board Member at Spirit Realty Capital During Macerich President and CEO Jackson Hsieh’s Successful Tenure at the Company
SANTA MONICA, Calif., July 22, 2024 (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 Diana M. Laing to its Board of Directors. Ms. Laing previously served on Macerich’s Board from 2003 through 2022.
With the addition of Ms. Laing, Macerich’s Board will have eight directors, seven of whom are independent.
A seasoned corporate finance executive with 35+ years in real estate investment and operating companies, Ms. Laing brings key skills and experience to the Macerich Board – including her tenure as a member of the Board of Directors of Spirit Realty Capital when Macerich President and Chief Executive Officer Jackson Hsieh successfully led that company.
Ms. Laing’s areas of expertise include corporate strategy, risk management, public equity and corporate debt offerings, finance and capital markets, corporate governance and sustainability matters, investor relations, together with extensive knowledge of IT and cybersecurity, including cybersecurity assessments, controls, protocols, monitoring and incident response, obtained through the responsibility for IT department leadership and activities in each CFO role.
“On behalf of my fellow board members, we are incredibly pleased to welcome Diana back to the Macerich Board,” said Hsieh. “I had the opportunity to work with Diana on Spirit Realty’s Board of Directors, and I have experienced firsthand the immense value she brings to her board position. Not only is Diana a highly respected leader in the REIT industry overall, but her deep knowledge of Macerich, thanks to her many years of board membership here, will deliver sizable benefits to our company. I look forward to working with Diana as we continue to execute our strategic objectives.”
In 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 rejoin the Macerich Board at this pivotal juncture for the company, which recently marked 30 years since IPO and has outstanding new leadership in Jack Hsieh,” said Ms. Laing. “I look forward to supporting the success of Macerich’s well-crafted Path Forward strategy that concentrates the portfolio on its best properties, which are thriving centers, and is designed to deliver a substantially stronger balance sheet. Macerich has a bright future and I am excited to be part of what’s ahead for this industry leader.”
Ms. Laing’s impressive professional background includes serving as CFO of American Homes 4 Rent, a REIT investing in single-family rental homes, until her retirement in June 2018. More recently, she was interim CFO for Alexander & Baldwin, a REIT investing in commercial properties in Hawaii, from November 2018 to May 2019. Prior to American Homes 4 Rent, she was CFO and corporate secretary for Thomas Properties Group, Inc. and CFO for New Pacific Realty Corporation and Arden Realty.
About Macerich
Macerich is a fully integrated, self-managed and 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 45 million square feet of real estate consisting primarily of interests in 42 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 nine consecutive years (2015-2023). 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
FAQ
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