Top Simon exec exiting company
David Contis, Simon Property Group’s president of mall operations, is resigning from the Indianapolis-based retail real estate giant to “spend more time with his family,” the firm said in an SEC filing.
David Contis, Simon Property Group’s president of mall operations, is resigning from the Indianapolis-based retail real estate giant to “spend more time with his family,” the firm said in an SEC filing.
The Indianapolis-based mall owner already has reversed a decision to—in some malls—replace its traditional Christmas tree in favor of the glacier display after it received a chilly reception.
Every little bit helps, but a larger-scale investment is needed to redevelop parts of the mall and reposition the overall property for long-term success.
Simon Property Group executive David Contis says technology will enhance, not kill, bricks-and-mortar retail.
Simon Property Group Inc. is proposing an estimated $20 million in improvements to Circle Centre mall, which spurred a downtown renaissance when it opened 20 years ago this month but now is showing signs of struggle.
Sales per square foot are down, the building itself is aging, and persuading the lone anchor, Carson Pirie Scott, to stay another three years required generous incentives.
Simon Property Group won’t have to face a lawsuit alleging it improperly barred investors from voting on an executive-pay plan that resulted in a $120 million stock award to CEO David Simon. Public documents released Thursday show Simon made about $16 million last year.
David Contis is joining Simon Property Group Inc. as senior executive vice president and president of the company’s mall platform. Contis, the current president of real estate for Chicago-based Equity Group Investments, starts work May 2.