Jun
22
Name Change to Follow Management Shakeup at WP Glimcher
ByCEO Michael Glimcher’s resignation signals that the retail REIT is on the verge of major changes.
by Gail Kalinoski
Columbus, Ohio—When Washington Prime Group Inc., and Glimcher Realty Trust announced a $4.3 billion merger nearly two years ago, then-WPG CEO Mark Ordan said his company had found “something special” in Glimcher and GRT CEO Michael Glimcher said there would be “tremendous operating synergies.”
Analysts also said at the time the deal made sense for both REITs.
But late Monday Glimcher resigned as CEO & vice chairman and Louis Conforti, a company director, was named interim CEO. The board also said it planned to change the company name back to Washington Prime Group. The company announced it expects to take a charge associated with the management changes and investigation of strategic alternatives in the second quarter…
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