Indianapolis — David Simon, chairman, CEO and president of Simon Property Group, passed away Sunday, March 22, after a battle with cancer. He was 64 years old.
Simon Property Group’s board has appointed David Simon’s son, Eli Simon, as CEO and president. Eli Simon will also continue his role as COO and director of the company. Additionally, board member Larry Glasscock has been appointed to serve as non-executive chairman.
David Simon joined the company’s predecessor, Melvin Simon & Associates, as CFO in 1990. In 1993, at 31 years old, he orchestrated the company’s initial public offering on the New York Stock Exchange, raising nearly $1 billion in what was then the largest real estate public stock offering in history. Two years later, he became one of the youngest CEOs of a major publicly traded company in America. Under his leadership, Simon Property Group has delivered a cumulative total shareholder return of more than 4,500 percent since its IPO.
Until recently, he also served as Chairman of the Supervisory Board of Klépierre, a publicly traded, Paris-based retail real estate company, and served on the board of Apollo Global Management, Inc.
“David’s legacy transcends financial performance. He was a leader of uncommon integrity, fierce loyalty, and deep personal conviction,” said Glasscock in a statement. “He inspired everyone around him to reach higher, think bigger and never settle. He set the standard — not just for our Company, but for an entire industry. All of the Simon malls, the world-class Simon Premium Outlets and every mixed-use destination in our portfolio bear the imprint of his vision and his exacting standards.”