CBL & Associates Properties, Inc. (NYSE: CBL) today announced that its board of directors has promoted Stephen D. Lebovitz to serve as chief executive officer of the company effective Jan. 1, in addition to his current position as president.
Current chairman and chief executive officer, Charles B. Lebovitz, will continue to serve as executive chairman of the board, maintaining an integral role in the company’s ongoing operations and leadership, it was stated.
“It is with a great deal of excitement and confidence that we announce Stephen’s promotion to chief
executive officer,” said Charles Lebovitz. “Since joining CBL over 20 years ago, Stephen has earned tremendous respect both throughout the industry and within the CBL organization for his expertise and thoughtful leadership. He has been closely involved with every aspect of the company’s operations, including serving as a principal in each major company transaction since CBL’s initial public offering in 1993.
"With Stephen’s continued vision and guidance, we look forward to carrying CBL’s legacy of success into the future.”
John Foy, vice chairman and chief financial officer, commented, “During his decades of service to CBL, Stephen has maintained a critical role in guiding the Company’s growth. His appointment to CEO is a natural progression given his tremendous industry knowledge, personal integrity and clear vision. I am looking forward to continuing to work along-side Stephen in leading this outstanding organization as we look to further strengthen CBL and capitalize on the next set of opportunities.”