BEACHWOOD, Ohio, March 25, 2011 /PRNewswire/ -- Developers
Diversified Realty Corporation (NYSE: DDR) today announced it has
furthered its commitment to risk management with the formalization
of its Enterprise Risk Management (ERM) Program.
ERM at Developers Diversified is an integration of strategy,
process, people and technology that promotes the identification,
prioritization, ownership and management of the company's critical
risks.
The Developers Diversified ERM Program is managed by a risk
committee comprised of senior executives representing all major
departments and is designed to assess and manage the strategic,
operational, compliance and financial risks of the
organization.
Daniel B. Hurwitz, president
& chief executive officer of Developers Diversified and chair
of the risk committee, said, "Embracing sound and comprehensive
enterprise risk management practices is aligned with our consistent
commitment to manage this company with less risk, both
operationally and financially. This is becoming more apparent in
every aspect of our business, from reducing our debt and extending
its duration to pursuing leases with the most creditworthy
tenants."
Please visit the new ERM section of the Developers Diversified
website www.ddr.com/erm.aspx to learn more about the program.
About Developers Diversified Realty
Developers Diversified owns and manages approximately 570 retail
operating and development properties in 41 states, Brazil, Canada and Puerto
Rico. Totaling approximately 132 million square feet, the
Company's shopping center portfolio features open-air,
value-oriented neighborhood and community centers, mixed-use
centers and lifestyle centers located in prime markets with stable
populations and high-growth potential. Developers Diversified is
the largest landlord in Puerto
Rico and owns a premier portfolio of regional malls
primarily clustered around Sao Paulo,
Brazil. Developers Diversified is a self-administered and
self-managed REIT operating as a fully integrated real estate
company. Additional information about the Company is available on
the Company's website at www.ddr.com.
SOURCE Developers Diversified Realty Corporation