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Mills Corp. Begins New Strategy

ARLINGTON, VA-Retail property developer the Mills Corp. begins the year with changes, revealing a new strategy focusing on its core operations and development prospects. It also calls for changes to internal accounting operations and a trimming of the management team.

By Barbra Murray | Updated on January 09, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

ARLINGTON, VA-The Mills Corp. will institute a number of changes in an effort to improve operations and fortify the company. The retail property developer will incorporate a new multi-faceted strategy involving its core operations, management staff and internal financial structure.

For starters, Mills’ plan calls for the boosting of the company’s concentration on its core operations by training an even more focused eye on its policy of pursuing projects that will result in substantial shareholder value. As a result, the company will back away from 10 predevelopment pursuits that do not fit the bill, including six projects in the US. “Our approach to every project will continue to stress discipline and a careful evaluation of risk-adjusted return, so that we can determine if the value to be created warrants the level of capital and management attention needed to pursue each opportunity,” says Mills president Mark D. Ettenger.

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