CBL & Associates Properties, Inc. announced that Farzana Khaleel will step down as CBL's executive vice president – chief financial officer as of December 31, 2022. CBL also announced that Ben Jaenicke will join the company as executive vice president – finance on September 1st and will begin serving as EVP – CFO as of January 1, 2023. To provide for a smooth transition, Ms. Khaleel will enter into a consulting arrangement with the company to provide advisory services through March 31, 2023, with one three-month extension available, at the company's option.

Mr. Jaenicke joins CBL from Wells Fargo Securities (and predecessor firm Eastdil Secured) where he spent more than a decade in real estate investment banking. In this role, he worked closely with executives across the real estate industry on strategic and capital planning including advising clients on M&A transactions, recapitalizations, and capital markets executions. Prior to joining Wells Fargo/Eastdil, Mr. Jaenicke worked at PricewaterhouseCoopers where he performed audits and other accounting services for public REIT clients.

Mr. Jaenicke holds a BS in Business and a Master of Accounting from Miami University and received his MBA from the University of Virginia Darden School of Business. He is a CFA charterholder and former Certified Public Accountant.