CBL & Associates Properties, Inc. announced Wednesday that John N. Foy has retired as an officer of the organization and as a director and vice chairman of CBL's Board of Directors. He will remain to assist in this transition through the remainder of the year. Mr. Foy's retirement concludes a 44 year career with the CBL organization and its predecessor company, including 19 years of service as a director.
"Since John first joined my family's shopping center development company in 1968, his foresight and expertise has ensured that we were always in a position of financial strength and able to pursue new growth opportunities," said Charles B. Lebovitz, chairman of the Board. "John is well recognized and respected throughout the industry for his financial discipline and creative leadership. The strength of character with which John guides both his personal and professional life has established a culture within the CBL organization of integrity and excellence that will continue to guide our progress into the future. We appreciate his many years of significant contributions and wish him good health and continued success in his future endeavors."
"I am proud of my role in helping to establish CBL as the remarkable organization that it is today," said Mr. Foy. "After 44 years, the decision to retire isn't easy, but I feel that we have a great management team in place to continue CBL's track record of outstanding growth. I look forward to having the time to pursue new interests and am confident that CBL will continue to produce excellent results for its shareholders."