Simon Property Group Announces Retirement of Herbert Simon

Rhea-AI Summary

Simon Property Group (NYSE: SPG) announced the retirement of Herbert Simon, Chairman Emeritus of the Board of Directors, effective February 4, 2025. Herbert Simon, who co-founded the company 65 years ago, expressed confidence in the company's future under the leadership of David Simon, who has served as CEO since 1994. David Simon, currently Chairman, CEO and President, acknowledged Herbert's contributions as co-founder and his impact on the company's more than 3,600 employees.

Positive

• 65-year legacy of successful real estate business development
• Stable leadership with 30-year tenure of current CEO David Simon
• Strong workforce of 3,600+ employees

Negative

• None.

News Market Reaction – SPG

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On the day this news was published, SPG declined 0.13%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

INDIANAPOLIS, Feb. 6, 2025 /PRNewswire/ -- The Board of Directors of Simon Property Group, Inc. (NYSE: SPG) today announced that Herbert Simon Chairman Emeritus of the Board of Directors has retired effective February 4, 2025.

Herbert Simon stated, "Mel and I started our real estate journey 65 years ago having no idea where it would take us. Simon has grown to be one of the most respected and successful companies in the world. With David's leadership as CEO starting 30 years ago in 1994, I expect that SPG will continue to grow and prosper for many years to come. I look forward to watching its continued success with all the future opportunities brought its way."

David Simon, Chairman, Chief Executive Officer and President, stated, "Our Company has benefited greatly from Herb's unique knowledge and experience as one of our co-founders, and I thank him immensely on behalf of myself, the Board, our management team and more than 3,600 employees."

About Simon
Simon^® is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

 

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SOURCE Simon

FAQ

When did Herbert Simon retire from Simon Property Group (SPG)?

Herbert Simon retired as Chairman Emeritus of Simon Property Group effective February 4, 2025.

How long was Herbert Simon involved with Simon Property Group (SPG)?

Herbert Simon was involved with Simon Property Group for 65 years, having co-founded the company.

How long has David Simon been CEO of Simon Property Group (SPG)?

David Simon has been CEO of Simon Property Group since 1994, marking a 30-year tenure as of 2025.

How many employees does Simon Property Group (SPG) currently have?

Simon Property Group currently employs more than 3,600 people.

What positions does David Simon hold at Simon Property Group (SPG)?

David Simon serves as Chairman, Chief Executive Officer, and President of Simon Property Group.