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Lou Conforti has stepped down as Washington Prime Group CEO after guiding the firm through its reorganization under Chapter 11 bankruptcy protection. The former public REIT emerged from bankruptcy last week after cutting about $1 billion from its balance sheet and will operate as a private holding company, majority owned by SVPGlobal. While the company searches for a replacement, executive vice president and CFO Mark Yale and executive vice president and head of leasing Josh Lindimore will serve as interim co-CEOs. In addition, the company named Sujan Patel, Jeff Johnson and Martin Reid to its board.
After months of searching, JCPenney, which is owned by Simon and Brookfield, named Marc Rosen as CEO, effective Monday. Rosen brings more than 25 years of retail and e-commerce experience to the role, most recently as executive vice president and president of Levi Strauss Americas, driving the apparel company’s digital strategy.