Simon hiring from within to replace departing CFO

Indianapolis-based Simon Property Group Inc. is hiring from within to replace departing Chief Financial Officer Andy Juster.

Simon, a Fortune 500 firm and the largest retail real estate investment trust in the United States, announced Thursday that Senior Vice President and Treasurer Brian McDade would succeed Andy Juster as CFO.

McDade has been with the company for 14 years, serving in various senior finance and accounting roles, according to the firm.

Simon announced in March that Juster planned to retire at the end of the year. He joined the company in 1989 when it was known as Mel Simon & Associates and had been CFO since 2014. He is expected to provide support to McDade through the end of the year as the latter assumes his new role.

"We are fortunate to be in a position to have Brian succeed Andy in what will be a smooth transition in leadership," said David Simon, the firm's chairman and CEO.

Simon shares were up 19 cents to $168.27 during mid-morning trading Thursday. Simon has a market capitalization of $60 billion.

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