Shopping Center Business

MAY 2017

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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62 • SHOPPING CENTER BUSINESS • May 2017 WHO'S WHO IN THE INDUSTRY MACY'S NAMES NEW CEO The board of directors of Macy's, Inc. has unanimously elected Jeff Gennette as chief executive officer. A 30-year veteran of Macy's, Gennette succeeds Terry J. Lundgren, who will continue as executive chairman. "Jeff will be a terrific CEO for Macy's, Inc. He has a deep knowledge of this company, coupled with the vision and determination to continue Macy's transformation for the next generation. Jeff has a proven track record as a successful retail operator, seasoned merchant and business leader and has contributed significantly to the company's long history of success," says Lundgren. "I'm honored to be taking on this role and excited about Macy's prospects. While we certainly have our challenges, we also have great assets and opportunity. No company is better up to the task of reinvention than Macy's," says Gennette. Prior to being named CEO, Gennette was president of Macy's, Inc. since March 2014. Previously, he was chief merchandising officer of Macy's, Inc. (formerly known as Federated Department Stores, Inc.), a position to which he was appointed in February 2009. A&G REALTY FORMS JOINT VENTURE WITH LEADING GROCERY REAL ESTATE EXECUTIVE A&G Realty Partners has formed a joint venture with leading grocery real estate executive Joe McKeska. The new venture — titled Elkhorn Real Estate Partners — will be based in Oak Brook, and will work to drive value for retailers and investors through repositioning, recapitalizing, reinvesting in and restructuring portfolios and assets. Prior to joining with A&G, McKeska headed the real estate operations of Southeastern Grocers LLC and Supervalu Inc. The new joint venture will leverage advanced data and analysis, including unique, location- based modeling and geospatial data. "Working with the best data firms in the business, Elkhorn merges leading-edge research with Joe's decades of experience in retail strategy and analysis to create unique deliverables for our clients," says Emilio Amendola, co-president of A&G. "The end result is enormously useful. It connects the dots to ensure that real estate portfolios truly support operational success." DDR NAMES DAVID LUKES PRESIDENT, CEO DDR Corp. has named David Lukes president and CEO. Lukes has also been named to the company's board of directors. He will replace outgoing CEO Tom August, who has stepped down. Prior to joining DDR, Lukes served as CEO of Equity One, Seritage Realty Trust and Olshan Properties, and as COO of Kimco Realty Corp. Also joining DDR are Michael Makinen, who will serve as executive vice president and COO, and Matthew Ostrower, who will serve as executive vice president, CFO and treasurer. KROGER NAMES PRESIDENT OF FRED MEYER STORES The Kroger Co. has named Joe Grieshaber as its new president of Fred Meyer Stores, replacing Jeff Burt, who resigned on March 20, 2017 to become Target Corporation's senior vice president of grocery, fresh food and beverage. Grieshaber had been serving as president of Kroger's Columbus, Ohio, division. Succeeding Grieshaber will be Dan De La Rosa, who has been promoted to serve as president of Kroger's Columbus division. De La Rosa currently serves as vice president of merchandising for Fred Meyer Stores. As president of the Fred Meyer division, Grieshaber will be based in Portland, Ore. Fred Meyer Stores offers one-stop shopping at multi-department stores in Alaska, Idaho, Oregon and Washington. GAP INC. NAMES NEW GLOBAL HEAD OF BANANA REPUBLIC Gap Inc. has appointed Mark Breitbard as president and chief executive officer of Banana Republic. Previously, he was CEO of The Gymboree Corporation. Breitbard will report to Art Peck, president and chief executive officer of Gap Inc. Peck will continue to directly oversee Banana Republic until Breitbard joins the company in early May. "Mark brings significant retail leadership experience to Gap Inc., along with deep knowledge of the company and our customer," says Peck. LOCAL EXPERTISE. INTERNATIONAL REACH. WORLD CLASS. lee-associates.com OUTSTANDING MARKET INTELLIGENCE IN OFFICE, INDUSTRIAL, RETAIL, INVESTMENT AND APPRAISAL TO MEET THE SPECIALIZED NEEDS OF OUR DIVERSE CLIENT GROUP. VISIT US AT RECON – C1139

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