The Macerich Company announced that Thomas O'Hern will be appointed to the role of Chief Executive Officer of the company, effective as of January 1, 2019. Mr. O'Hern will succeed Arthur Coppola, who is retiring from his role as Chief Executive Officer effective as of December 31, 2018. Mr. O'Hern currently serves as the company's Senior Executive Vice President, Chief Financial Officer and Treasurer and will continue to serve in that role until his appointment to the role of Chief Executive Officer.

The Company also announced that Scott Kingsmore, Senior Vice President of Finance, will assume the role of Executive Vice President, Chief Financial Officer and Treasurer of the company, effective as of January 1, 2019, to succeed Mr. O'Hern. As the incoming Chief Executive Officer, Mr. O'Hern will be nominated to stand for election to the company's Board of Directors as a director at the 2018 Annual Meeting to fill the seat previously held by Mr. Coppola, whose term as a director and Chairman will expire at the 2018 Annual Meeting. The Board has appointed Steven Hash, current Lead Independent Director, to serve in the role of independent Chairman of the Board as of the 2018 Annual Meeting and will separate the roles of CEO and Board Chair as of such date.

The Company also announced that Robert Perlmutter, former Chief Operating Officer of the Company, has departed from Macerich. Mr. O'Hern was appointed Senior Executive Vice President in September 2008 and has been the Company's Chief Financial Officer and Treasurer since July 1994. Mr. O'Hern was an Executive Vice President from December 1998 through September 2008 and served as a Senior Vice President from March 1993 to December 1998.

Mr. Kingsmore joined the Company's Finance team in 1998 after serving as Macerich's controller for two years. Mr. Kingsmore has been responsible for managing the Company's debt portfolio, ranging from refinancings to acquisition, development and corporate financing transactions, as well as overseeing the Company's financials and various aspects of internal and external financial reporting for the Company. Mr. Kingsmore has over 25 years of experience in the retail real estate industry, and has been with Macerich for the past 22 years.

Prior to his tenure at Macerich, he worked for Westfield America.