Macerich Is Said Close to Announcing Plans for CEO Retirement

April 19, 2018, 9:18 PM UTC

Macerich Co.’s chief executive officer has told the U.S. mall owner’s board that he plans to retire, according to people familiar with the matter.

Macerich could announce plans for Arthur Coppola to step down as soon as this week, said the people, who asked not to be identified as the details aren’t public. Coppola has been CEO since 1993 and is also chairman of the company. He joined Macerich in 1976, according the company’s website.

Starboard Value, the activist fund run by Jeff Smith, has built a position in Macerich and nominated a majority slate of directors to its ...

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