David Simon, chairman, CEO and president of Simon Property Group, Inc., has died at age 64 following a battle with cancer. Simon was widely credited with building Simon Property Group into what the company describes as the largest retail real estate firm in the world, overseeing an expansive portfolio of malls, Simon Premium Outlets and mixed-use destinations.
The company emphasized that Simon had long prioritized succession planning, and the board moved quickly to install a new leadership structure. Eli Simon has been appointed CEO and president and will also continue in his roles as chief operating officer and director. In addition, Larry Glasscock has been named non-executive chairman of the board.
David Simon began his career with the company's predecessor, Melvin Simon & Associates, in 1990, joining as chief financial officer. He brought to the role analytical skills shaped by his earlier work as a Wall Street investment banker, with experience at First Boston Corporation and Wasserstein Perella & Co. That background informed his approach as he helped guide the company's evolution into a major publicly traded real estate enterprise.
In 1993, at the age of 31, Simon led the company's initial public offering on the New York Stock Exchange. The offering raised nearly $1 billion and was described at the time as 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 the United States, marking a rapid ascent in both the real estate and corporate arenas.
Under David Simon's leadership, Simon Property Group delivered a cumulative total shareholder return of more than 4,500% since its IPO, according to the company. That performance, coupled with the company's growth in scale and the expansion of its retail and mixed-use footprint, solidified Simon's reputation as a prominent figure in the public real estate sector.
In a statement issued on behalf of the board, Larry Glasscock said that Simon's impact went beyond financial metrics. Glasscock described him as a leader of uncommon integrity, loyalty and conviction who consistently pushed colleagues to aim higher and think more ambitiously. He added that Simon set a standard for the industry and left a personal imprint on Simon malls, Simon Premium Outlets and the company's mixed-use properties through his vision and attention to detail.
The Simon family plans to share information about memorial services at a later date. They have requested that, in lieu of flowers, contributions be directed to several organizations: the Anti-Defamation League, the American Jewish Committee, the UJA Federation of New York and the Foundation to Combat Antisemitism.
