The Macerich Company has appointed Thomas O’Hern as CEO, effective Jan. 1, 2019 when he will succeed Arthur Coppola.
"Succession planning is a top priority for the board, and the board was unified in its determination that Tom is the right person to lead Macerich into the future," Steven Hash, lead director and incoming chairman of the board, said. "We are confident Tom will build upon the company's success with a keen eye towards its future and a focus on generating long-term value for the company and all of our stockholders."
O’Hern has been with Macerich for 22 years and has served the company as senior executive vice president since 2008. His previous roles include chief financial officer and treasurer. He is also a member of Douglas Emmett Inc.’s board of directors, the audit committee chairman and a member of the nominating and corporate governance committee.
He will be one of the nominees for the position of director at the company’s Board of Directors, a position that also will be vacated by Coppola on Dec. 31.
Senior Vice President of Finance Scott Kingsmore will assume O’Hern’s position as senior executive vice president. With over 25 years of retail real estate experience, he is a capital market expert and has maintained valuable relationships with life insurers, CMBS, and commercial bank leaders.
In other company news, Chief Operating Officer Robert Perlmutter has departed the company.