Taubman Centers, Inc. (NYSE: TCO) today announced that Peter
Sharp has resigned as president of Taubman Asia. Sharp had held the
position since January 2017.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20191011005239/en/
Paul Wright (Photo: Business Wire)
“We thank Peter for his contributions and his steadfast
commitment to driving the company’s growth in Asia,” said Robert
Taubman, chairman, president and CEO of Taubman. “We wish him well
in his new endeavors.“
Paul Wright, executive vice president and global head of
Leasing, will be promoted to president of Taubman Asia effective
January 1, 2020. He is relocating to Hong Kong and will then report
to Taubman Chairman, President and CEO Robert Taubman.
“Paul’s significant relationships with global retailers and
partners, and his knowledge of the Asia market, has been an
important part of our business in the U.S. and abroad,” said Mr.
Taubman. “This promotion is the natural next step for Paul, and his
competencies will be essential as we prepare to open Starfield
Anseong in South Korea in 2020 and evaluate other opportunities in
the region.”
Mr. Wright reports to the company’s Chief Operating Officer
William Taubman. After this transition, Mr. William Taubman will
maintain ultimate responsibility for the global leasing function,
continuing the company’s legacy of developing and leasing
best-in-class retail assets that are the most productive in the
publicly held mall sector.
Mr. Wright, joined Taubman Asia in 2006 and last served as group
vice president of Leasing. During his tenure, he delivered
exceptional leasing performance for the company’s ground-up
development properties in China -- CityOn.Xi’an (opened April 28,
2016) and CityOn.Zhengzhou (opened March 16, 2017), as well as
Starfield Hanam in South Korea (opened Sept. 9, 2016). Mr. Wright
also led Taubman’s successful leasing efforts for IFC Mall in South
Korea, a center for which Taubman Asia previously provided leasing
and management services. He was promoted to his current role and
began working at Taubman’s Bloomfield Hills, Mich., office in early
2017. In the U.S., Mr. Wright’s accomplishments have included the
successful leasing efforts for the company’s most recent
redevelopment projects - Beverly Center in Los Angeles and The Mall
at Green Hills in Nashville.
Prior to joining Taubman Asia, Mr. Wright worked with Citta
Management Limited where he was responsible for leasing, property
management and retail operations at the Taipei 101 Mall. He also
held management roles with Lendlease Corporation in Asia and Jones
Lang Wootton in Perth and Sydney. A native of Australia, Mr. Wright
speaks Mandarin Chinese and English. He is a member of the
International Council of Shopping Centers.
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”, “we”, “us”, “our”, “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. These 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, the company assumes 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 and
uncertainties, including that the conditions to one or more
transaction closings may not be satisfied, the potential impact on
the company due to the announcement of the disposition of ownership
interests, the occurrence of any event, change or other
circumstances that could give rise to the delay or termination of
the transactions, general economic conditions, 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;
challenges with department stores; changes in consumer shopping
behavior; 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; competitors gaining
economies of scale through M&A and consolidation activity;
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; costs associated with response to
technology breaches; the loss of key management personnel;
shareholder activism costs and related diversion of management
time; 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191011005239/en/
CONTACTS: Maria Mainville, Director of Strategic Communications,
Taubman 248-258-7469, mmainville@taubman.com
Erik Wright, Manager of Investor Relations, Taubman
248-258-7390, ewright@taubman.com
Taubman Centers (NYSE:TCO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Taubman Centers (NYSE:TCO)
Historical Stock Chart
From Apr 2023 to Apr 2024