David S. Joseph Resigns as Executive Vice President of Leasing for Taubman; Taubman Asia’s Paul A. Wright to be Promoted to...
December 21 2016 - 4:15PM
Business Wire
Taubman Centers, Inc. (NYSE: TCO) today announced that David S.
Joseph is resigning as executive vice president of Leasing
effective December 31, 2016. Mr. Joseph has successfully led
Taubman’s leasing efforts since 2013 and has made many
contributions during his tenure. He will provide support as an
independent consultant in 2017.
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Paul A. Wright (Photo: Business Wire)
Paul A. Wright, group vice president of Leasing for Taubman
Asia, will relocate to the U.S. and will be promoted to executive
vice president, global head of Leasing for Taubman effective spring
2017. During the transition, Chief Operating Officer William S.
Taubman will assume day-to-day leadership of the leasing
function.
“Paul’s promotion reflects the global nature of the retail and
mall industries, and provides our company the opportunity to
significantly enhance leasing synergies as we work with retailers
across our properties, whether in the U.S. or Asia,” said Mr.
Taubman. “We are delighted to promote Paul into this new role.”
Mr. Wright, who has led the Taubman Asia leasing function since
mid-2006 as group vice president of Leasing, has delivered
exceptional leasing performance for the company’s ground-up
development properties in China -- CityOn.Xi’an (opened April 28,
2016) and CityOn.Zhengzhou (opening March 2017), as well as
Starfield Hanam in South Korea (opened Sept. 9, 2016). He also led
Taubman’s successful leasing efforts for The Boulevard at Studio
City in Macau and IFC Mall in South Korea.
Prior to Taubman, Mr. Wright held senior-level positions with
Citta Management Limited and Lendlease.
About Taubman
Taubman Centers is an S&P MidCap 400 Real Estate Investment
Trust engaged in the ownership, management and/or leasing of 26
regional, super-regional and outlet shopping centers in the U.S.
and Asia. Taubman’s U.S.-owned properties are the most productive
in the publicly held U.S. regional mall industry. Founded in 1950,
Taubman is headquartered in Bloomfield Hills, Mich. Taubman Asia,
founded in 2005, is headquartered in Hong Kong.
www.taubman.com.
For ease of use, references in this press release to “Taubman
Centers,” “company,” “Taubman” or an operating platform mean
Taubman Centers, Inc. and/or one or more of a number of separate,
affiliated entities. Business is actually conducted by an
affiliated entity rather than Taubman Centers, Inc. itself or the
named operating platform.
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. A statements reflect management's current views with
respect to future events and financial performance. Forward-looking
statements can be identified by words such as “will”, “may”,
“could”, “expect”, “anticipate”, “believes”, “intends”, “should”,
“plans”, “estimates”, “approximate”, “guidance” and similar
expressions in this press release that predict or indicate future
events and trends and that do not report historical matters. The
forward-looking statements included in this release are made as of
the date hereof. Except as required by law, we assume no obligation
to update these forward-looking statements, even if new information
becomes available in the future. Actual results may differ
materially from those expected because of various risks,
uncertainties and other factors. Such factors include, but are not
limited to: changes in market rental rates; unscheduled closings or
bankruptcies of tenants; relationships with anchor tenants; trends
in the retail industry; the liquidity of real estate investments;
the company’s ability to comply with debt covenants; the
availability and terms of financings; changes in market rates of
interest and foreign exchange rates for foreign currencies; changes
in value of investments in foreign entities; the ability to hedge
interest rate and currency risk; risks related to acquiring,
developing, expanding, leasing and managing properties; changes in
value of investments in foreign entities; risks related to joint
venture properties; insurance costs and coverage; security breaches
that could impact the company’s information technology,
infrastructure or personal data; the loss of key management
personnel; terrorist activities; maintaining the company’s status
as a real estate investment trust; changes in the laws of states,
localities, and foreign jurisdictions that may increase taxes on
the company’s operations; and changes in global, national, regional
and/or local economic and geopolitical climates. You should review
the company's filings with the Securities and Exchange Commission,
including “Risk Factors” in its most recent Annual Report on Form
10-K and subsequent quarterly reports, for a discussion of such
risks and uncertainties.
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version on businesswire.com: http://www.businesswire.com/news/home/20161221005542/en/
Maria Mainville, Director of Strategic Communications,
Taubman248-258-7469, mmainville@taubman.comorRyan Hurren, Director
of Investor Relations, Taubman248-258-7232, rhurren@taubman.com
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