Macerich Appoints President & CEO
Jackson Hsieh has been appointed president & CEO of The Macerich Co. Hsieh will take on the role on March 1, 2024, following the retirement of Thomas O’Hern, who will continue to serve as advisor to the company until the end of June, to ensure a smooth transition. Ferguson Partners assisted with the board’s search process for the new CEO.
Jackson Hsieh was previously the president & CEO of Spirit Realty Capital. He led the merger between Realty Income Corp. and Spirit Realty Capital, initially announced in October last year. The deal closed in late January, when Realty Income acquired Spirit in an all-stock transaction valued at $9.3 billion. Among the company’s other deals, Spirit also sold $4.7 billion in non-core assets and acquired more than $6.2 billion in retail and industrial assets. The company also had $2.9 billion in assets transferred into a separate publicly traded firm.
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Spirit Realty’s successful business ventures, along with Jackson Hsieh’s expertise and experience in the real estate sector and investment banking made him the right candidate to assume the CEO position, Thomas O’Hern commented in prepared remarks.
Macerich owns, operates and develops retail assets in key markets across the U.S. The REIT owns interests in 43 regional town centers, totaling 46 million square feet. The company’s footprint includes properties in California, Phoenix/Scottsdale, the Pacific Northwest and the metro New York to Washington D.C. corridor.
Alongside the retirement of the former CEO, President Edward Coppola is also retiring from the company after a 46-year tenure.
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