Simon Property Group Names Martin J. Cicco to Board, Approves $2B Share Repurchase

Simon names veteran real‑estate financier Marty Cicco to strengthen capital and leasing strategy

Simon Property Group appoints Martin J. Cicco to its Board of Directors, aiming to deepen the company’s expertise in real estate finance and capital markets. Cicco brings more than 45 years of industry experience, including founding MJC Associates, launching Evercore Partners’ Real Estate Strategic Advisory practice and a 29‑year tenure at Merrill Lynch where he rose to Vice Chairman of Global Commercial Real Estate and Global Head of Real Estate Investment Banking. The appointment is effective immediately and is disclosed in a company release.

Board leaders say Cicco’s track record in advising major real estate firms and his extensive network will be directly applicable to Simon’s strategic priorities. Lead Independent Director Larry Glasscock says the board is “delighted” and expects Cicco’s deep knowledge of real‑estate finance and capital markets to complement existing expertise and guide management on critical issues. Chief Executive David Simon adds that Cicco’s experience with complex financial and strategic matters will strengthen the board’s ability to focus on long‑term value creation.

Simon frames Cicco’s arrival as timely for ongoing portfolio and operating initiatives across North America, Europe and Asia. The company notes his advisory experience will support capital allocation decisions, leasing strategies and international portfolio optimization and growth — areas that are central to a mall and mixed‑use owner managing redevelopment, tenant mix and cross‑border investments. Cicco’s past roles on academic and industry advisory boards, and his current advisory work, are presented as enhancing Simon’s access to capital markets intelligence and leasing strategy insights.

Board action authorises new $2.0 billion repurchase program

Separately, Simon’s board authorises a new common‑stock repurchase programme of up to $2.0 billion through Feb. 29, 2028, replacing a prior plan set to expire. The company says purchases may occur in the open market or through negotiated transactions and remain subject to market conditions and the board’s discretion.

Company cautions on risks to operations and outlook

Simon includes customary forward‑looking disclaimers, flagging risks such as intense retail competition and e‑commerce, tenant bankruptcies, loss of anchor tenants, rising vacancies, inflationary pressures, supply‑chain disruptions, geopolitical tensions, security incidents, insurance availability, cyber threats, changes in interest rates and challenges tied to international operations.