CHICAGO—General Growth Properties, Inc. moved quickly to fill the vacancies on their board of directors. John Schreiber and Cyrus Madon resigned effective August 20 and the company recently appointed Daniel Hurwitz and Brian Kingston to serve as independent directors until the next annual meeting of shareholders. The Chicago-based GGP has a portfolio of 123 US malls with about 128-million-square-feet.
Hurwitz has been the chief executive officer of DDR Corp., an owner and manager of shopping centers, since January 2010. He served as DDR's president and chief operating officer from May 2007 through December 2009 and as senior executive vice president and chief investment officer from May 2005 to May 2007.
Kingston serves as senior managing partner at Brookfield Asset Management Inc. and, since January 2013, global chief investment officer for Brookfield Property Group. Brookfield owns and operates assets with a focus on property, renewable power, infrastructure and private equity. Kingston joined Brookfield in 2001 and held senior management positions within Brookfield and its affiliates, including mergers and acquisitions, merchant banking and real estate advisory services. From 2008 to 2012, Mr. Kingston held leadership roles for Brookfield in Australia.
Schreiber and Madon resigned in order to devote more time to their other respective business interests. Schreiber is the president of Centaur Capital Partners, Inc. and a partner and co-founder of Blackstone Real Estate Advisors. Like Kingston, Madon is the senior managing partner of Brookfield Asset Management where he handles private equity and finance activities. Schreiber was chairman of the Compensation Committee of which Madon was a member.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
