DDR Replaces CEO David Oakes After Less Than 2 Years at Helm
- Oakes not entitled to severance, shopping center landlord says
- REIT names Thomas August as CEO, effective immediately
This article is for subscribers only.
DDR Corp. abruptly terminated its chief executive officer, David Oakes, after less than two years at the helm of the U.S. shopping center landlord.
Oakes, who was also interim chief financial officer, won’t be entitled to receive any severance payment, according to a regulatory filing Monday. Thomas August will become CEO, effective immediately, the real estate investment trust said in a statement.