Management Appointments And Independent Directors Announced For Washington Prime Group Inc.

INDIANAPOLIS, April 4, 2014 /PRNewswire/ — Simon Property Group, Inc. (NYSE:
SPG), a global leader in the retail real estate industry, today announced
management appointments and four independent directors who will join the board
of Washington Prime Group Inc.

Simon announced that the following individuals will join Washington Prime
Group’s management team once the spin-off is completed:

— Myles Minton will become Chief Operating Officer. Minton previously
served as President of the Community Center business for Simon since
2007, and has led the team responsible for management and operations as
well as significant new community center developments during that
— Robert P. Demchak will be joining as General Counsel and Corporate
Secretary. Demchak currently serves as Senior Vice President – Legal and
Capital Markets for Simon Property Group and has held various legal
positions at Simon since 2009.
— Michael J. Gaffney will hold the position of Senior Vice President, Head
of Capital Markets. As current Senior Vice President – Capital Markets
at Simon Property Group, Gaffney has led numerous debt and equity
capital markets transactions, and has been a member of Simon’s finance
team for seven years.
Mark Ordan, recently announced President and Chief Executive Officer of
Washington Prime Group commented: “These seasoned leaders, along with our
soon-to-be announced Chief Financial Officer, have deep knowledge and experience
managing large, public retail real estate companies. Together, with our board
members, we are excited to build a growing Washington Prime Group that will
provide superior shareholder returns.”

Independent Directors appointed to serve on the board of Washington Prime Group:

— Louis G. Conforti, Senior Managing Director, Balyasny Asset Management
(BAM) and Principal, Colony Capital LLC (Colony): Louis Conforti leads
BAM’s global real estate securities effort as well as a joint venture
between BAM and Colony. BAM is a leading global alternative investment
manager with approximately $4.25 billion AUM and Colony is one of the
world’s largest real estate investment managers with 12 offices and 250
employees, having invested approximately $50 billion during its 20 year
history. Prior to BAM, Conforti was Global Head of Real Estate for UBS
— Robert J. Laikin, Founder and former Chairman of the Board and Chief
Executive Officer, BrightPoint, Inc.: Robert Laikin founded BrightPoint,
Inc. (then known as Wholesale Cellular USA, Inc.) in 1989 and served as
Chairman of the Board and Chief Executive Officer. BrightPoint, Inc. was
listed on the NASDAQ from April 1994 until its sale to Ingram Micro Inc.
in October 2012. Laikin has served as Executive Advisor to the CEO of
Ingram Micro Inc. since November 2012. He is also a member of the Board
of Directors for the Eskenazi Health Foundation, a Board Trustee at the
Indianapolis Zoo and serves as an Executive Board member of the Johnson
Center for Entrepreneurship & Innovation at Indiana University.
— Jacquelyn Soffer, Principal, Turnberry Associates: As Principal for
Turnberry Associates, Jackie Soffer oversees the company’s retail,
hospitality and office divisions, including its landmark Aventura Mall,
South Florida’s largest super-regional shopping center and one of the
top grossing centers in the United States. Turnberry’s hotel and resort
divisions also includes the Turnberry Isle Resort Aventura;
Fontainebleau Hotel Miami Beach; Four-Diamond Hilton Nashville Downtown;
Union Station Nashville Hotel; Orlando Courtyard Downtown by Marriott;
Aventura Courtyard by Marriott; Residence Inn by Marriott at Aventura
Mall; and Hampton Inn Hallandale Beach/Aventura. Soffer joined Turnberry
Associates in 1989. She is a Board Member of Fontainebleau Miami Beach
and a member of the Board of Trustees of the Museum of Contemporary Art
in North Miami, Florida.
— Marvin L. White, System Vice President and Chief Financial Officer,
St.Vincent Health: As System Vice President and Chief Financial Officer,
Marvin White’s responsibilities include finance, accounting, patient
financial services, and managed care for all 19 St.Vincent Health
ministries, as well as 36 joint ventures. Prior to joining St.Vincent
Health in 2008, White served as Executive Director and Chief Financial
Officer at Eli Lilly & Company’s Lilly USA, where he was a member of the
Operations Committee. He was the immediate past Chairman of St.Vincent
Indianapolis Hospital Board of Directors and currently serves on the
board for Emergent BioSolutions, HealthLease Properties REIT, Marian
University and the Center for Leadership Development.
As previously announced, Richard S. Sokolov, President and Chief Operating
Officer of Simon Property Group, will serve as Chairman of Washington Prime
Group’s Board of Directors, and David Simon, Chairman and Chief Executive
Officer of Simon Property Group, will also be a member of Washington Prime
Group’s Board. Mark Ordan, the President and Chief Executive Officer of
Washington Prime Group, will also serve on the Board of Directors.

The spin-off transaction is subject to certain conditions, including, among
others, declaration by the Securities and Exchange Commission that Washington
Prime Group’s registration statement is effective, filing and approval of
Washington Prime Group’s listing application, customary third party consents,
and formal approval and declaration of the distribution by Simon’s Board of
Directors. Simon may, at any time and for any reason until the proposed spin-off
transaction has been consummated, abandon the separation, modify or otherwise
change its terms.

Washington Prime Group will be one of the most diversified portfolios of
shopping centers in the U.S. retail real estate industry, initially comprised of
98 properties totaling 53 million square feet in 23 states. After completion of
the planned spin-off from Simon, Washington Property Group intends to become an
independent, publicly traded real estate investment trust on the New York Stock

Supplemental Materials and Website

Supplemental information on the transaction, including all past releases and
Form 10 filings plus an investor presentation, is available at

We routinely post important information online at our investor relations
website, We use this website, press releases, SEC filings,
quarterly conference calls, presentations and webcasts to disclose material,
non-public information in accordance with Regulation FD. We encourage members of
the investment community to monitor these distribution channels for material
disclosures. Any information accessed through our website is not incorporated by
reference into, and is not a part of, this document.

Forward-Looking Statements

Statements in this presentation that are not historical may be deemed
“forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995. Although Simon Property Group believes that the
expectations reflected in any forward-looking statements are based on reasonable
assumptions, it can give no assurance that these expectations will be attained
and it is possible that actual results may differ materially from those
indicated by these forward-looking statements due to a variety of risks and
uncertainties. Such factors include, but are not limited to: uncertainties as to
the timing of the spin-off and whether it will be completed, the possibility
that various closing conditions for the spin-off may not be satisfied or waived,
the expected tax treatment of the spin-off, the possibility that third party
consents required to transfer certain properties in the spin-off will not be
received, the impact of the spin-off on the businesses of Simon Property Group
and the spin-off company, Simon Property Group’s ability to meet debt service
requirements, the availability and terms of financing, changes in Simon Property
Group’s credit rating, changes in market rates of interest and foreign exchange
rates for foreign currencies, changes in the value of investments in foreign
entities, the ability to hedge interest rate risk, risks associated with the
acquisition, development, expansion, leasing and management of properties,
general risks related to retail real estate, the liquidity of real estate
investments, environmental liabilities, international, national, regional and
local economic climates, changes in market rental rates, trends in the retail
industry, relationships with anchor tenants, the inability to collect rent due
to the bankruptcy or insolvency of tenants or otherwise, risks relating to joint
venture properties, costs of common area maintenance, competitive market forces,
risks related to international activities, insurance costs and coverage,
terrorist activities, changes in economic and market conditions and maintenance
of Simon Property Group’s status as a real estate investment trust. Simon
Property Group discusses these and other risks and uncertainties under the
heading “Risk Factors” in its annual and quarterly periodic reports filed with
the SEC. Additional risk factors can be found in SpinCo’s Form 10-12B to be
filed with the SEC. Simon Property Group may update that discussion in its
periodic reports, but otherwise undertakes no duty or obligation to update or
revise these forward-looking statements, whether as a result of new information,
future developments, or otherwise.

About Simon Property Group

Simon Property Group, Inc. (NYSE: SPG) is a S&P 100 company and a global leader
in the retail real estate industry. We currently own or have an interest in more
than 325 retail real estate properties in North America, Asia and Europe
comprising approximately 243 million square feet. We are headquartered in
Indianapolis, Indiana and employ approximately 5,500 people in the U.S. For more
information, visit

SOURCE Simon Property Group, Inc.

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