PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: General Growth Properties (GGP)

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

General Growth Properties Names Board of Directors for Spin-Off Company to Be Named Howard Hughes Corporation - The Howard Hughes Corporation Board of Directors will assume its responsibilities following the spin-off, which is expected to occur upon GGP’s emergence from bankruptcy in early November
General Growth Properties Names Board of Directors for Spin-Off Company to Be Named Howard Hughes Corporation

 

NewswireToday - /newswire/ - Chicago, IL, United States, 2010/10/08 - The Howard Hughes Corporation Board of Directors will assume its responsibilities following the spin-off, which is expected to occur upon GGP’s emergence from bankruptcy in early November. NYSE: GGP

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Real Estate/Property Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

General Growth Properties, Inc. today named the individuals that will comprise the nine-member Board of Directors for the spin-off company that will consist of GGP’s portfolio of master planned communities and other real estate assets with long-term potential. GGP also announced today the spin-off company will be named The Howard Hughes Corporation.

The Howard Hughes Corporation Board of Directors will assume its responsibilities following the spin-off, which is expected to occur upon GGP’s emergence from bankruptcy in early November. The Company intends to name William A. Ackman Chairman at that time.

“I am extremely pleased that we have assembled such an experienced, talented and dynamic group of individuals to serve as directors of The Howard Hughes Corporation,” said Bill Ackman, Chairman Designee of the Board of The Howard Hughes Corporation. “I also believe the Howard Hughes name -- which reflects the success and vision of one of our country’s greatest entrepreneurs -- is a fitting brand for this world-class portfolio of real estate assets. We look forward to working to create long-term value for our shareholders.”

The following eight individuals will be members of The Howard Hughes Corporation Board of Directors. One seat on the Board of Directors will be reserved for the company’s Chief Executive Officer, who is expected to be announced after the spin-off is completed.

# Bill Ackman - Founder and Chief Executive Officer of Pershing Square Capital Management, L.P. and a director of General Growth Properties, Inc. from June 2009 to March 2010. Mr. Ackman will serve as the Chairman of the Board of The Howard Hughes Corporation;
# David Arthur - Managing Partner, Real Estate Investments -- North America, for Brookfield Asset Management;
# Adam Flatto - President, The Georgetown Company, a privately held real estate investment and development company based in New York City;
# Jeff Furber - Chief Executive Officer of AEW Capital Management, L.P., which provides real estate investment management services to investors worldwide;
# Gary Krow - President, CEO and a director of GiftCertificates.com, a leading eCommerce provider of B2B incentive management solutions. Formerly, President of Comdata Corporation, a subsidiary of Ceridian Corporation;
# Allen Model - Co-Founder, Treasurer and Managing Director of Overseas Strategic Consulting, Ltd., an international consulting firm that provides public information services to clients worldwide;
# Scot Sellers - Chief Executive Officer of Archstone, one of the world’s largest apartment companies, and former Chairman of the National Association of Real Estate Investment Trusts (NAREIT);
# Steve Shepsman - Executive Managing Director and Founder of New World Realty Advisors, a real estate advisory firm with expertise in real estate restructuring, development and finance, and Chair of the Official Committee of Equity Holders in the Chapter 11 proceedings of General Growth Properties, Inc.

Messrs. Ackman, Model and Krow are designees of Pershing Square Capital Management, L.P. whose investment agreement with The Howard Hughes Corporation allows it to name three members of the Board. Mr. Arthur is a designee of Brookfield Asset Management, whose investment agreement with The Howard Hughes Corporation allows it to name one member of the Board.

About GGP
GGP (ggp.com) currently has ownership and management interest for more than 200 regional shopping malls in 43 states, as well as ownership in planned community developments and commercial office buildings. The Company’s portfolio totals approximately 200 million square feet of retail space and includes more than 24,000 retail stores nationwide. The Company’s common stock is traded on the New York Stock Exchange under the symbol GGP.

FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements. Actual results may differ materially from the results suggested by these forward-looking statements, for a number of reasons, including, but not limited to, our ability to successfully complete our plan of reorganization and emerge from bankruptcy, our ability to refinance, extend, restructure or repay our near and intermediate term debt, our substantial level of indebtedness, our ability to raise capital through equity issuances, asset sales or the incurrence of new debt, retail and credit market conditions, impairments, our liquidity demands and retail and economic conditions. Readers are referred to the documents filed by General Growth Properties, Inc. with the Securities and Exchange Commission, which further identify the important risk factors which could cause actual results to differ materially from the forward-looking statements in this release. The Company disclaims any obligation to update any forward-looking statements.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Real Estate/Property Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: General Growth Properties (GGP)

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Real Estate/Property Management articles,
CATCH Visitors via Your Competitors Announcements!


General Growth Properties Names Board of Directors for Spin-Off Company to Be Named Howard Hughes Corporation

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: David Keating - GGP.com 
312-960-6325 david.keating[.]ggp.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Growth Properties (GGP) securities in any jurisdiction including any other companies listed or named in this release.

Real Estate/Property Management via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From General Growth Properties (GGP) / Company Profile


Read Real Estate/Property Management Most Recent Related Newswires:

Ede Costa Team Joins Berkshire Hathaway HomeServices California Properties
Berkshire Hathaway HomeServices California Properties Opens New Office in Brea
Berkshire Hathaway HomeServices Nevada Properties Opens New Southwest Las Vegas Office
Berkshire Hathaway HomeServices Nevada Properties Appoints New Las Vegas Branch Manager
Homenova, Inc. Launches A Website for Private Home Sales
Real Estate Executives Appointed to GLVAR Board in Nevada
Westcorp CFO Named Top Tech Exec in Nevada
Berkshire Hathaway HomeServices Arizona Names New Manager
Berkshire Hathaway HomeServices California Properties Names Larry Tait Yorba Linda Branch Manager
Progressive Realtors Launches New Website to Connect Home Buyers & Sellers
Americana Holdings Forms Alliance with ListHub Global in Three States
Manhattan Boutique Real Estate Joins South China’s Leading Luxury Property Show
17th Annual Kansas City Pagan Pride Day - Harvest Festival and Craft Faire on September 13th
Celebrity Staging Expert Announces Ask The Stagers Platform
Berkshire Hathaway HomeServices Arizona Properties Welcomes Hamlet Terry Team

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  Triggr & Bloom

Visit  La Bella Bakery Artisan Bakery Arizona





 
  ©2016 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)