DDR

Investor Insights

DDR Reports 2Q16 Operating Results

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Thomas F. August Named CEO of DDR

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DDR Completes $58 Million of Transactions in 2Q16

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4:02 PM ET on Jul 26, 2016 Delayed at least 20min., by eSignal.

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Management

Image of Thomas F. August

Thomas F. August is President & Chief Executive Officer of DDR Corp., a position he assumed in July 2016.

Mr. August previously held the role of President and Chief Executive Officer of Equity Office, the U.S. office platform wholly-owned by Blackstone's real estate funds, from 2010 to 2015 and has served as a board member of the company since October 2009.

Mr. August previously served as president, chief executive officer, and a trustee of the office REIT Prentiss Properties Trust from 1996 until its acquisition in 2006. Mr. August held other executive roles, including chief financial officer, at Prentiss since 1987.

Mr. August also served in executive capacities with Cadillac Fairview Urban Development, Inc., Oxford Properties, Inc., and was a vice president of Citibank. He currently serves as Chairman of the board of DCT Industrial, and has been a board member since 2006. Mr. August earned a bachelor's degree from Brandeis University and an MBA from Boston University.

Image of Christa A. Vesy

Christa A. Vesy is Interim Chief Financial Officer, a position she assumed in July 2016, as well as Executive Vice President & Chief Accounting Officer, a position she assumed in March 2012. In these roles, Ms. Vesy oversees the property and corporate accounting, and financial reporting functions for DDR. Previously Ms. Vesy served as Senior Vice President & Chief Accounting Officer since November 2006. She has been a member of the Company's executive committee since 2006.

Prior to joining DDR, Ms. Vesy worked for The Lubrizol Corporation, where she served as manager of external financial reporting and then as controller for the lubricant additives business segment. Prior to joining Lubrizol, from 1993 to September 2004, Ms. Vesy held various positions with the Assurance and Business Advisory Services group of PricewaterhouseCoopers LLP, a registered public accounting firm, including Senior Manager from 1999 to September 2004.

Ms. Vesy graduated with a bachelor of science degree in business administration from Miami University in Oxford, Ohio. Ms. Vesy is a certified public accountant (CPA) and member of the American Institute of Certified Public Accountants (AICPA) and the National Association of Real Estate Investment Trusts (NAREIT). She also serves on the Board of Trustees of the Boys & Girls Clubs of Cleveland and the Rocky River Soccer Organization.

Image of Paul W. Freddo

Paul W. Freddo is the Senior Executive Vice President of Leasing & Development, a position he assumed in December 2008. He joined DDR as Senior Vice President of Development - Western Region in August 2008.

He oversees the leasing, development, redevelopment and expansion, retail partnerships, business development, and peripheral development departments within the Company. In addition, Mr. Freddo serves on the Company's executive, investment, management, internal compensation and enterprise risk management committees.

Prior to joining DDR, Mr. Freddo served as Vice President and Director of Real Estate for JCPenney.

Mr. Freddo holds a bachelor's degree in business administration from Adelphi University. His professional and civic activities include being a Trustee for the International Council of Shopping Centers (ICSC) and serving on the Board of Directors for The Network.

Image of Vincent A. Corno

Vincent A. Corno is Executive Vice President of Leasing & Development, a position he assumed in July 2016.

Mr. Corno most recently served as Senior Vice President - Real Estate for DICK’S Sporting Goods, Inc. (NYSE: DKS) and previously as Senior Vice President of Real Estate with Saks Incorporated and as Senior Vice President with The May Department Stores Company.   He also held the position of Vice President of Development with Forest City Enterprises.

Mr. Corno earned his undergraduate and juris doctor degrees at St. Louis University, and is also a licensed attorney as well as a certified public accountant. He is a past Trustee for the International Council of Shopping Centers (ICSC).

Image of David E. Weiss

David E. Weiss is Executive Vice President & General Counsel, a position he assumed in 2010. He had been Senior Vice President since 2006, and General Counsel since 2003. His management of the legal aspects of the Company's day-to-day operations includes real estate, acquisitions, dispositions, leasing, litigation, commercial financing transactions, insurance and risk management and general corporate matters. Mr. Weiss is a member of the Company's executive and enterprise risk management committees and serves as corporate secretary.

Before joining DDR in 1999, Mr. Weiss was a partner with the law firm McDonald, Hopkins, Burke & Haber Co., LPA, in Cleveland.

A former council member for the City of Shaker Heights, Mr. Weiss is a member of the 2004 class of Leadership Cleveland, past president of Family Connections, and former member of the Visiting Committee of the Cleveland-Marshall College of Law. In addition, he presently serves as Vice Chair of the Board of the Centers for Families and Children and is a member of the Legal Advisory Council for the International Council of Shopping Centers (ICSC). Mr. Weiss also is a Fellow in the American College of Real Estate Lawyers (ACREL).

Mr. Weiss received his bachelor of arts in political science from the University of Michigan and is a graduate of The Ohio State University's Moritz College of Law. He is a member of the Cleveland and American Bar Associations, the National Association of Real Estate Investment Trusts (NAREIT) and the International Council of Shopping Centers (ICSC).

Image of Kevin M. Moss, CSM

Kevin M. Moss is the Executive Vice President & Chief Information Officer, a position he assumed in March 2016. He previously served as Senior Vice President of Information Technology since joining the Company in 2008.

Mr. Moss brings a business approach to the leadership of technology initiatives. He is responsible for driving innovation through strategic investments in software and infrastructure, aligning interdepartmental goals, and leveraging technology to empower business units and enable them to improve their performance and profitability. Mr. Moss serves on the Company's executive, enterprise risk management and IT steering committees.

He previously worked for GGP. His career there spanned 22 years and included various property management positions at the property and regional levels, as well as serving as the company's first Chief Information Officer.

Mr. Moss has a degree in business administration from Drake University. He is a Certified Shopping Center Manager (CSM) and a member of the International Council of Shopping Centers (ICSC).

Image of David J. Favorite, CSM

David J. Favorite is the Executive Vice President of Property Management, a position he assumed in September 2012. Previously, he held the positions of Senior Vice President of Property Management from 2009 through August 2012 and Vice President of Property Management – Community Centers from 2005 through 2009. Mr. Favorite joined DDR in 2003 as Vice President of Operations and has been a member of the Company’s executive committee since 2003.

Mr. Favorite oversees the day-to-day operations of all shopping centers in the U.S. and Puerto Rico, which includes maintenance, capital improvements, enforcement of tenants’ lease obligations and shopping center marketing. He is also responsible for creating all operating procedures and policies while maintaining responsibility for compliance.

Prior to joining DDR, Mr. Favorite held property management positions with the Edward J. DeBartolo Corporation and Forest City Commercial Management, where he served as Vice President of Operations for the last 15 years of his 20-year tenure with the company.

Mr. Favorite graduated from Bowling Green State University with a bachelor of science degree in marketing. He is a member of the International Council of Shopping Centers (ICSC), is a former State of Ohio ICSC Operations Manager, and previously served on the ICSC CSM Committee. He is on the Board of Trustees for Benedictine High School. Mr. Favorite also served on the facilities committee for the Cleveland-area Ronald McDonald House.

Image of Mark S. Floyd

Mark S. Floyd is the Executive Vice President of Employment, a position he assumed in January 2012. In this role, Mr. Floyd is responsible for recruitment, development and retention efforts and execution of the Company's strategic plan as it relates to human capital. Mr. Floyd serves on the Company's executive, compensation, charitable contributions, enterprise risk management and IT steering committees.

Prior to joining DDR, Mr. Floyd served as a partner of Ulmer & Berne and co-chair of the firm's employment and labor law group.

Mr. Floyd serves as a member of the Commission for Judicial Candidates, responsible for reviewing and evaluating candidates for The Supreme Court of Ohio. He is also the Secretary of the Ohio State Bar Association’s Non Dues Revenues Committee and is a Fellow of the Ohio State Bar Foundation. Mr. Floyd has also served on numerous charitable and civic boards including The Urban League of Greater Cleveland, The Cleveland Ballet, The Cleveland Institute of Music; and committees of The Cleveland Orchestra and Cleveland State University. Mr. Floyd is a member of The International Council of Shopping Centers (ICSC) and the National Association of Real Estate Investment Trusts (NAREIT).

Mr. Floyd received his bachelor of arts from Stanford University and is a graduate of the Columbia University School of Law.

Image of David C. Dieterle

David C. Dieterle is the Senior Vice President of Leasing, overseeing domestic assets in the Northeast and Southeast, a position he assumed in March 2015. He previously served as Senior Vice President of Leasing for the Company’s Southern and Western regions, a position he assumed in October 2005. Mr. Dieterle joined DDR in 2002 as Senior Leasing Director for the Western Region. He has been a member of the Company's executive committee since 2005.

Prior to joining DDR, Mr. Dieterle was Vice President of Business Development for BAA USA Inc., where he was accountable for the acquisition of airport retail management, development and leasing contracts. He began his career in property management at Kravco, a King of Prussia, Pennsylvania-based shopping center management and development company.

Mr. Dieterle is a member of the International Council of Shopping Centers (ICSC) and a graduate of Ursinus College, earning a degree in political science.

Image of Christopher H. Erb

Christopher H. Erb is the Senior Vice President of Development, a position he assumed in January 2012. Previously he served as Vice President of Redevelopment – Eastern Region since July 2011, Vice President of Development – Southern Region since March 2008, Senior Development Director since March 2007, and other positions of increasing responsibility with DDR since he joined the Company in 2001. He is a graduate of the Company's industry leading Management Training Program and has been a member of the company's executive committee since 2008.

Mr. Erb is responsible for overseeing all redevelopment and development activity throughout the United States and Puerto Rico.

Mr. Erb is a graduate of Colgate University, where he earned a bachelor of arts in international relations, and is an active member of the International Council of Shopping Centers (ICSC). He is active in the community and currently serves on the Board of Directors for the Beachwood Chamber of Commerce, civic leadership programs Summer on the Cuyahoga and Colgate on the Cuyahoga, where he also serves as Treasurer. In addition, he serves as a member of the Business Advisory Committee for Cuyahoga Community College.

Image of William J. Kern

William J. Kern is the Senior Vice President of National Accounts, a position he assumed in March 2015. In this role, Mr. Kern oversees the Company’s National Accounts and Ancillary Income programs across the portfolio. He previously served as Senior Vice President of Leasing, Senior Vice President of Retail Partnerships, Vice President of Acquisitions & Dispositions, and Vice President of Development – Site Acquisitions. He is a graduate of the Company's industry-leading Management Training Program. Mr. Kern joined DDR in 2002 and has been a member of the Company's executive committee since 2007.

Mr. Kern is a graduate of Colgate University, earning a bachelor of arts in economics, and is an active member of the International Council of Shopping Centers (ICSC) and Summer on the Cuyahoga, a civic leadership program. In 2007, he was recognized as one of "Twenty in their 20's" by Crain's Cleveland Business, which recognizes future leaders in Northeast Ohio.  Mr. Kern also holds Board positions with the Cleveland chapters of the Positive Coaching Alliance and The First Tee.
 

Image of Matthew A. Lougee

Matthew A. Lougee is the Senior Vice President of Finance, a position he assumed on January 1, 2013, after serving as Vice President of Finance from October 2011 to December 2012.

Mr. Lougee leads the Portfolio Management and Investor Relations functions. His departments' responsibilities include investor communication, underwriting investment decisions, quarterly reporting, board relations, strategic planning, financial modeling, and asset-level underwriting.  His prior experience included capital markets and transactions activity.

Mr. Lougee is a graduate of the Company’s Management Training Program, and has served on DDR’s Executive Committee since 2011. He serves as a guest speaker at SNL’s REIT School and in Case Western Reserve’s graduate courses.  He is also on the Corporate Advisory Board of Case Western University.  Mr. Lougee is a graduate of Colgate University.

Image of Craig A. Schultz

Craig A. Schultz is the Senior Vice President of Strategic Finance & Tax, a position he assumed in July 2009. He was promoted to Senior Vice President of Tax for DDR in March 2009. Previously he served as Vice President of Tax since March 2005 and Director of Tax since November 2002. He has been a member of the Company's executive committee since 2005.

In his role, he is responsible for the long-term strategic financial model utilized in analyzing the Company's operational and capital markets initiatives. Mr. Schultz's additional responsibilities include the overall management of the tax function which encompasses strategic structural tax planning, implementing business initiatives, tax accounting and reporting, and tax compliance, as well as employee compensation and benefits.

Prior to joining DDR, Mr. Schultz worked for 10 years at Deloitte & Touche as a Senior Tax Manager, specializing in partnership taxation, with an emphasis on real estate tax matters.

Mr. Schultz holds a master's degree in taxation from the University of Akron and a bachelor's degree in business administration from Bowling Green State University. He is a certified public accountant (CPA) and is a member of the National Association of Real Estate Trusts (NAREIT), The International Council of Shopping Centers (ICSC), the American Institute of Certified Public Accountants (AICPA) and the Ohio Society of CPAs (OSCPA).

Mr. Schultz is a board member of The Gathering Place, a nonprofit dedicated to helping individuals and families affected by cancer, as well as a member of the board of trustees for the Westshore Montessori School.
 

Image of Kenneth L. Stern

Kenneth L. Stern is the Senior Vice President of Peripheral Development, a position he assumed in March 2009. He joined DDR in September 1995 as Director of Leasing – Northeast. He was promoted to Director of Peripheral Development in October 1999 and then to Vice President of Peripheral Development in March 2005.

In his role, he oversees the Company's portfolio of excess land and generates new income from the sale, ground leases or creation of multi-tenant buildings on the pads of the Company's shopping centers. Mr. Stern serves on the Company's executive committee.

Prior to joining DDR, Mr. Stern was Director of Retail Leasing for CMS Companies, a wealth management and real estate investment firm based in Philadelphia. He was also Leasing Manager for the Core Group, a real estate investment and development company based in New York City and Philadelphia.

Mr. Stern graduated from Penn State University with a bachelor of science from the Smeal College of Business. He is a member of the International Council of Shopping Centers (ICSC).

Image of Anthony Vodicka

Anthony Vodicka is the Senior Vice President of Leasing for the West Region, a position he assumed in March 2005. He is responsible for overseeing leasing activities in over 10 states. Mr. Vodicka had served as Vice President of Leasing for the Western Region since March 2002 and prior to that, as Assistant Vice President of Leasing for the Midwest Region and as Regional Leasing Manager. Mr. Vodicka has been a member of the Company's executive committee since 2002.

Prior to joining DDR in October 1999, Mr. Vodicka was a Leasing Representative for the Richard E. Jacobs Group, a Cleveland-based shopping center management company.

Mr. Vodicka is a graduate of Mercyhurst College in Erie, PA, where he earned a bachelor's degree in management and marketing. Mr. Vodicka is a member of the International Council of Shopping Centers (ICSC).

Image of Bryan P. Zabell

Bryan P. Zabell is the Senior Vice President of Leasing, a position in which he is responsible for overseeing all leasing efforts in the Midwest and West. Mr. Zabell also oversees all leasing efforts for DDR’s Specialty Center portfolio, which includes the Company’s 15 properties in Puerto Rico.

He previously served as Senior Vice President of Anchor Store Leasing, a department which was launched in 2009 in response to numerous big box retailer bankruptcies and the resulting vacancies caused by the Great Recession.  Under the leadership of Mr. Zabell, the anchor store leasing department completed more than 250 big box leases totaling more than 8 million square feet between 2009 and 2014.  Mr. Zabell joined DDR in 2001 and was one of the original graduates of the Company’s industry-leading Management Training Program. Mr. Zabell has been a member of the Company’s executive committee since March 2008.

Mr. Zabell is a graduate of the Max M. Fisher College of Business at The Ohio State University, an active member of the International Council of Shopping Centers (ICSC), and a member of the Planning and Zoning Commission for the City of Beachwood.

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