General Growth taps former Vornado exec as CEO

By Reuters
Posted Oct. 28, 2010 at 4:00 p.m.

General Growth Properties Inc. named Sandeep Mathrani, Vornado Realty Trust’s  former president of its retail unit, to become the No. 2 U.S. mall owner’s new chief executive after it emerges from bankruptcy next month, the company said on Thursday.

Mathrani will assume the position in the beginning of next year. He will succeed Adam Metz, who served as CEO during the company’s bankruptcy process.

Though chiefly an owner of office buildings, Vornado has 164 retail properties totaling 22.7 million square feet overseen by Mathrani. Of those properties, 14 are malls, including Kings Plaza Shopping Center in Brooklyn New York; Monmouth Mall in Eatontown, New Jersey; and The Cannery in San Francisco.

The company’s shares closed down 8 cents at $16.49.

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