Mills Replaces CEO Siegel With Mark Ordan

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CHEVY CHASE, MD-Laurence Siegel has retired as CEO of the embattled Mills Corp., replaced by Mark Ordan, who has been the company’s COO since March. Siegel has been appointed non-executive chairman of the board of Mills and is likely to join the new joint venture expected to form if or when Mills is able to close on the Meadowlands Xanadu transaction.

Ordan joined Mills as a long-time board member and past chairman of Federal Realty Investment Trust. He will resign from the Federal Realty Investment Trust as he assumes his new position at Mills. “Mark has helped strengthen our operations since March and the company will continue to benefit from his leadership as it pursues the previously announced strategic alternatives process,” Siegel said in a statement.