Governance

Board of Directors

Terrance R. Ahern – Chief Executive Officer, The Townsend Group & Chairman of the Board, DDR Corp.

Mr. Ahern is Co-Founder, Principal and Chief Executive Officer of The Townsend Group, an institutional real estate advisory and investment management firm formed in 1986. Mr. Ahern also is a member of the firm’s Investment Committee. The Townsend Group serves as adviser to, or invests on behalf of, domestic and offshore public and private pension plans, endowments and foundations, and sovereign wealth funds. Mr. Ahern is a past member of the Young Presidents Organization, the Pension Real Estate Association (PREA), the National Association of Real Estate Investment Trusts (NAREIT), and the National Council of Real Estate Investment Fiduciaries. He is a former member of the Board of Directors of PREA and the Board of Editors of Institutional Real Estate Securities. Mr. Ahern has been a frequent speaker at industry conferences, including PREA, NAREIT and the National Association of Real Estate Investment Managers.

Member of the Dividend Declaration Committee
Chair of the Executive Compensation Committee
Member of the Pricing Committee

Dr. Thomas Finne – Managing Director, KG CURA Vermögensverwaltung G.m.b.H. & Co.

Dr. Finne is the Managing Director of KG CURA Vermögensverwaltung G.m.b.H. & Co., a commercial real estate company located in Hamburg, Germany, that manages assets in North America and Europe. Prior to joining KG CURA Vermögensverwaltung G.m.b.H. & Co. in 1992, Dr. Finne was responsible for controlling, budgeting, accounting and finance for Bernhard Schulte KG, a ship owner and ship manager located in Hamburg, Germany. He is currently serving as a director of Sonae Sierra Brasil S.A., which owns and operates retail real estate assets in Brazil. Dr. Finne graduated with an undergraduate degree in business administration and received his doctorate from the International Tax Institute at the University of Hamburg.

Member of the Dividend Declaration Committee

Jane E. DeFlorio – Managing Director (Retired), Deutsche Bank AG

Jane E. DeFlorio

Ms. DeFlorio is Lead Independent Director of Perry Ellis International, Inc., a position she has held since 2014. At Perry Ellis, Ms. DeFlorio serves on the Audit, Governance and Investment Committees of the Board. From 2007 to 2013, she served as Managing Director in the U.S. Retail and Consumer Investment Banking Group with Deutsche Bank Securities, a role in which she advised mid- to large-cap retail and e-commerce clients on shareholder value creation strategies, mergers and acquisitions, capital structure, and product and market expansion initiatives. Prior to her time at Deutsche Bank, Ms. DeFlorio served as an Executive Director in investment banking at UBS, where she advised a wide range of mid- to large-cap retail and consumer clients.

Additionally, Ms. DeFlorio serves on several non-profit boards, including as Vice Chair of the Board of Trustees and Chair of the Audit and Risk Committee at The New School University, and as a member of the Board of Governors at The Parsons School of Design. Ms. DeFlorio earned a bachelor’s degree in mechanical engineering from the University of Notre Dame, and an MBA from Harvard University.

Member of the Audit Committee
Member of the Nominating and Corporate Governance Committee

Robert H. Gidel – Managing Member, Liberty Partners, LLC

Mr. Gidel has been the Managing Member of Liberty Partners, LLC, a company that invests in both private and publicly traded real estate and finance focused operating companies, since 1998. Since 2012, Mr. Gidel has served on the Board of Directors of Nationstar Mortgage Holdings, Inc. and was elected Chairman of Florida Polytechnic University's Board of Trustees in August 2012. Mr. Gidel was President of Ginn Development Company, LLC, one of the largest privately-held developers of resort communities and private clubs in the Southeast, from July 2007 until April 2009. Mr. Gidel was Chairman of the Board of Directors of LNR Property Holdings, a private multi-asset real estate company, from 2005 until 2007. Until January 2007, he was a member of the Board of Directors and Lead Director of Global Signal Inc., a real estate investment trust (REIT). He has been a Trustee of Fortress Registered Investment Trust and a Director of Fortress Investment Fund II, LLC since 1999, both of which are registered investment companies. From 1998 until 2005, Mr. Gidel was the independent member of the investment committee of the Lone Star Funds I, II, III, IV and V. Mr. Gidel was also a member of the Board of Directors of U.S. Restaurant Properties, Inc. until 2005 and a member of the Board of Directors of American Industrial Properties REIT until 2001. Mr. Gidel was elected a NASD Fellow and is on the Board of Directors of University of Florida Investment Corporation.

Member of the Audit Committee
Chair of the Nominating and Corporate Governance Committee

David R. Lukes – President & Chief Executive Officer

David Lukes has served as President and Chief Executive Officer and been a member of the DDR Board of Directors since March 2017.  Prior to joining DDR, Mr. Lukes served as Chief Executive Officer and President of Equity One from June 2014 and January 2017, respectively, until March 2017 and served as Executive Vice President from May 2014 to June 2014. Mr. Lukes also served as President and Chief Executive Officer of Sears Holding Corporation affiliate Seritage Realty Trust from 2012 through April 2014 and as President and Chief Executive Officer of Olshan Properties (formerly Mall Properties, Inc.) from 2010 through 2012. From 2002 to 2010, Mr. Lukes served in various senior management positions at Kimco Realty Corporation, including serving as its Chief Operating Officer from 2008 to 2010. Mr. Lukes holds a Bachelor of Environmental Design from Miami University, a Master of Architecture from the University of Pennsylvania, and a Master of Science in Real Estate Development from Columbia University.
Chair of the Dividend Declaration Committee
Chair of the Pricing Committee

Victor B. MacFarlane – Chairman & Chief Executive Officer, MacFarlane Partners

Mr. MacFarlane is Chairman and Chief Executive Officer of MacFarlane Partners, which he founded in 1987 to provide real estate investment management services to institutional investors. Mr. MacFarlane has more than 30 years of real estate experience. He sits on the Boards of Directors of the Robert Toigo Foundation, the Real Estate Executive Council and the Initiative for a Competitive Inner City. He also serves on the Board of Advisors for the UCLA School of Law and the board facilities committee of Stanford Hospital & Clinics. He is a member and former Trustee of ULI; a member and former Director of PREA; and a member of ICSC, the Chief Executives Organization and the World Presidents' Organization.

Member of the Executive Compensation Committee
Member of the Nominating and Corporate Governance Committee

Alexander Otto – Chief Executive Officer, ECE Projektmanagement G.m.b.H. & Co. KG

Mr. Otto has served as the Chief Executive Officer of ECE Projektmanagement G.m.b.H. & Co. KG, a commercial real estate company based in Hamburg, Germany that manages assets in Europe, since 2000. Mr. Otto is a graduate of St. Clare’s, Oxford and studied at Harvard University and Harvard Business School.

Mr. Otto is a member of the Boards of Directors, or equivalent governing bodies, of publicly traded companies Deutsche EuroShop AG and Sonae Sierra Brasil S.A., as well as the privately held companies Otto Group and Peek & Cloppenburg KG. Additionally, Mr. Otto is the Chairman of the International Council of Shopping Centers, Europe, the Lebendige Stadt (“Vibrant City”) Foundation, HSV Campus gemeinnützige GmbH and the Alexander Otto Sportstiftung Foundation, is a member of the board of the Harvard Business School Foundation of Germany and, together with his wife, established the Dorit and Alexander Otto Foundation.

Scott D. Roulston – Principal & Director of Wealth Management, Segall Bryant & Hamill

Mr. Roulston is Principal and Director of Wealth Management at Segall Bryant & Hamill, an independent investment firm. He is a Trustee of the Ohio Police and Fire Pension Fund. He was Managing Director of MAI Capital Management, LLC (MAI), a registered investment advisor, from 2013 to February 2017 and Managing Director at Burdette Asset Management, a private equity fund manager, from 2011 to January 2013. From 1990 to 2010, he was Chief Executive Officer of Roulston & Company, a firm that provided investment research and management, and its successor firm, Fairport Asset Management. He is Director and Chairman of Bluecoats, Inc. and a Director of University Circle, Inc. He is a former Director of Defiance, Inc., where he served as Chair of the Compensation Committee and member of the Audit Committee. Mr. Roulston is a graduate of Dartmouth College.

Chair of the Audit Committee
Member of the Pricing Committee

Barry A. Sholem – Partner, MSD Capital, L.P.

Mr. Sholem became a partner of MSD Capital, L.P., the family office of Michael and Susan Dell, and head of its real estate fund in July 2004. From 1995 until August 2000, Mr. Sholem was Chairman of DLJ Real Estate Capital Partners, a $2 billion real estate fund that he co-founded and that invested in a broad range of real estate-related assets, and a Managing Director at Credit Suisse First Boston. Prior to forming DLJ Real Estate Capital Partners, Mr. Sholem spent ten years at Goldman Sachs in its New York and Los Angeles offices. Mr. Sholem is active in ULI (CRC Silver Council), ICSC, the University of California, Berkeley Real Estate Advisory Board and the Business Roundtable.

Member of the Executive Compensation Committee

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