GGP Names New Finance Chief
September 21 2017 - 5:51PM
Dow Jones News
By Ezequiel Minaya
GGP Inc., one of the largest real-estate investment trusts in
the U.S., said Thursday that Heath Fear will serve as its next
chief financial officer.
Mr. Fear will replace Michael Berman, who is retiring from the
post March 1. Mr. Berman joined GGP in December 2011. Before that,
he was CFO of Equity LifeStyle Properties Inc.
GGP said Mr. Fear, who is rejoining the company after serving as
CFO of Retail Properties of America Inc., will assume the role of
executive vice president of finance on Nov. 6 before assuming the
CFO post.
He is slated to receive annual base salary of $750,000 and an
initial award of restricted stock valued at $1.65 million.
Three-quarters of the shares will vest over four years while the
remaining portion will be tied to performance goals, the company
said in a regulatory filing. Mr. Fear's target annual equity
incentive is $1 million for 2018.
Mr. Fear had spent some 12 years with GGP before joining Retail
Properties of America, the company said.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
September 21, 2017 17:36 ET (21:36 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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