General Growth top execs to step down next week

By Reuters
Posted Dec. 17, 2010 at 5:02 p.m.

General Growth Properties Inc. Chief Executive Officer Adam Metz and President and Chief Operating Officer Thomas Nolan will leave the company Dec. 22, sources familiar with the matter said on Friday.

The moves had been expected.

The two led the No. 2 U.S. mall owner through its bankruptcy, from which it emerged on Nov. 9.

The company said this year that it would replace its two most senior executives and named Sandeep Mathrani, the former head of Vornado Realty Trust’s retail unit, as its new CEO.

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