CBL Announces John Foy to Retire
CHATTANOOGA, Tenn. -- December 12, 2012
CBL & Associates Properties, Inc. (NYSE: CBL), today announced that John N.
Foy has retired as an officer of the organization and as a director and Vice
Chairman of CBL’s Board of Directors. He will remain to assist in this
transition through the remainder of the year. Foy’s retirement concludes a 44
year career with the CBL organization and its predecessor company, including
19 years of service as a Director.
“Since John first joined my family’s shopping center development company in
1968, his foresight and expertise has ensured that we were always in a
position of financial strength and able to pursue new growth opportunities,”
said Charles B. Lebovitz, chairman of the Board. “John is well recognized and
respected throughout the industry for his financial discipline and creative
leadership. The strength of character with which John guides both his personal
and professional life has established a culture within the CBL organization of
integrity and excellence that will continue to guide our progress into the
future. We appreciate his many years of significant contributions and wish him
good health and continued success in his future endeavors.”
“I am proud of my role in helping to establish CBL as the remarkable
organization that it is today,” said John N. Foy. “After forty-four years, the
decision to retire isn’t easy, but I feel that we have a great management team
in place to continue CBL’s track record of outstanding growth. I look forward
to having the time to pursue new interests and am confident that CBL will
continue to produce excellent results for its shareholders.”
About CBL & Associates Properties, Inc.
CBL is one of the largest and most active owners and developers of malls and
shopping centers in the United States. CBL owns, holds interest in or manages
162 properties, including 93 regional malls/open-air centers. The properties
are located in 27 states and total 92.9 million square feet including 9.4
million square feet of non-owned shopping centers managed for third parties.
Headquartered in Chattanooga, TN, CBL has regional offices in Boston
(Waltham), MA, Dallas (Irving), TX, and St. Louis, MO. Additional information
can be found atcblproperties.com.
Information included herein contains "forward-looking statements" within the
meaning of the federal securities laws. Such statements are inherently subject
to risks and uncertainties, many of which cannot be predicted with accuracy
and some of which might not even be anticipated. Future events and actual
events, financial and otherwise, may differ materially from the events and
results discussed in the forward-looking statements. The reader is directed to
the Company's various filings with the Securities and Exchange Commission,
including without limitation the Company's Annual Report on Form 10-K and the
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" incorporated by reference therein, for a discussion of such risks
CBL & Associates Properties, Inc.
Katie Reinsmidt, 423-490-8301
Senior Vice President - Investor Relations and Corporate Investments
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