By Denny Jacob
Seritage Growth Properties said Andrea Olshan agreed to step down as chief executive officer, president and member of the board on April 11.
The company, which focuses on the development, management and leasing of retail properties, said the reason for the transition was due to its continued pursuit of the shareholder-approved plan of sale.
Since its review of strategic alternatives in March 2022, Seritage's portfolio has shrunk to 15 assets from 160 assets, reducing the company's needs in the CEO role. The company added that both sides agreed to the change in leadership.
Seritage said the board appointed chairman Adam Metz, an independent member since 2022, as interim CEO and president, which is effective April 11.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 28, 2025 06:49 ET (10:49 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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