Rouse Properties Announces Leadership Transition
May 20 2016 - 9:00AM
Business Wire
Andrew Silberfein to Step Down Following Close
of Transaction with Brookfield Asset Management
Brian Harper to Serve as CEO of Rouse
Properties under Brookfield’s Ownership
Rouse Properties, Inc. (NYSE: RSE) (“Rouse” or the “Company”)
today announced that, following the anticipated close of the
previously announced transaction with an affiliate of Brookfield
Asset Management Inc. (NYSE: BAM, TSX: BAM.A, Euronext: BAMA)
(“Brookfield”), Andrew Silberfein will step down from the role of
President and Chief Executive Officer and from the Company’s Board
of Directors to pursue other opportunities. Mr. Silberfein will
remain CEO until Rouse’s transaction with Brookfield closes, which
is expected to occur in the third quarter of 2016, subject to
shareholder approval and the satisfaction of certain customary
closing conditions. Brian Harper, Rouse’s current Chief Operating
Officer, will serve as Chief Executive Officer of Rouse under
Brookfield’s ownership.
“It has been an honor and a privilege to lead Rouse, and I am
extraordinarily proud of what our team has accomplished since our
spin-off in 2012 from General Growth Properties,” stated Andrew
Silberfein. “In a few short years we have implemented a vision to
upgrade and rebrand an underperforming portfolio, build-out a
first-class platform and transform Rouse into a formidable
competitor that consistently demonstrated excellent performance
over this time period. Brian and I have worked side by side since
our formation, and his deep market knowledge and innovative
approach have been instrumental to Rouse’s success, especially
since his appointment as COO last year. I am confident that the
Company will be in good hands under Brian’s leadership.”
“On behalf of all shareholders of Rouse, I would like to thank
Andy for his contributions over the last five years,” said Ric
Clark, Chairman of Rouse and Brookfield Property Group. “During his
tenure as CEO and since Rouse’s spin-off, Rouse has generated
significant value for shareholders, delivering 83% total returns
over that period. His leadership and dedication have played a vital
role in making Rouse into the strong industry player that it is
today, and we wish him the best in his future endeavors.”
About Brian Harper
Since Rouse’s formation, Mr. Harper has played a key role in
executing the Company’s growth strategy, business plan and creating
long-term value. As Chief Operating Officer, he has been
responsible for the leasing, operations, acquisitions and marketing
efforts of the Company. He and his team have leased approximately
6.6 million square feet and have significantly enhanced the
merchandise mix of Rouse’s portfolio by creating and expanding
relationships with category-leading retail, restaurant and
entertainment brands. Prior to Rouse, Mr. Harper served as Senior
Vice President of Leasing for General Growth Properties. Prior to
GGP, Mr. Harper was a vice president at RED Development and an
associate at Cohen-Esrey Real Estate Services, LLC. Mr. Harper
received his Bachelor’s Degree from the University of Kansas.
About Rouse
Rouse Properties, Inc. (NYSE:RSE) is a publicly traded real
estate investment trust headquartered in New York City and was
founded on a legacy of innovation and creativity. Among the
country’s largest publicly traded regional mall owners, the
Company’s geographically diverse portfolio spans the United States
from coast to coast, and includes 35 malls and retail centers in 21
states encompassing approximately 24.1 million square feet. For
more information please visit: www.rouseproperties.com.
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Media:Joele Frank, Wilkinson Brimmer KatcherJonathan
Keehner / Andrew Siegel / Meaghan
Repko212-355-4449orInvestors:Rouse Investor
Relations212-608-5108IR@rouseproperties.com
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