Washington Prime Group Gets New CEO

Lou Conforti has a strong track record in the REIT industry.
Lou Conforti
Lou Conforti

Columbus, OhioFollowing a management shakeup and name change, retail REIT Washington Prime Group Inc. (WPG) recently announced the appointment of Lou Conforti as CEO of the company, effective immediately. Lou Conforti is the current director of the company, but since June 2016 he has served as interim CEO following former CEO Michael Glimcher’s resignation. Glimcher’s resignation came with the decision to remove the family name from the firm, formerly known as WP Glimcher..

Conforti was previously the executive director & global head of strategy at Colony Capital, a leading global real estate and investment management firm. Prior to his work at Colony, Conforti served as the global head of real estate for UBS O’Connor and also as a managing director & head of real estate investments at Stark Investments.

“My message remains the same: Lease space through traditional and innovative tenancy, improve operating efficacy and negotiate from a position of strength as it relates to strategic alternatives. Every day my team and I are committed to discovering innovative ways to improve the retail experience for our guests while building shareholder value,” Conforti stated.

Conforti will also remain a member of the company’s board of directors.

“Since his appointment as interim CEO, Lou has significantly improved the operating efficiency of the organization and through his leadership has demonstrated the capacity to realize new opportunities that are intended to drive long-term shareholder value,” said Chairman Robert Laikin.

WPG is currently based in Columbus and operates an additional office in Indianapolis.

Image courtesy of Washington Prime Group