Indianapolis, March 23, 2026, 09:52 EDT
- Simon reported that David Simon passed away on March 22 following a battle with cancer, with Eli Simon stepping in as CEO and president right away.
- The board tapped Larry Glasscock for the non-executive chairman role, highlighting what it called ongoing succession planning.
- Just weeks ago, Simon turned in record 2025 real estate FFO and set its sights on more growth for 2026, laying out new guidance.
Simon Property Group on Monday announced the death of David Simon—chairman, CEO, and president—at age 64. His son, Eli Simon, moves into the CEO and president roles immediately. The board chose Larry Glasscock as non-executive chairman.
There’s a shift underway at a major name in the retail landlord space. Simon, a retail REIT, holds stakes in more than 250 properties, totaling over 200 million square feet in North America, Europe, and Asia. The company is publicly listed and focuses on income-producing real estate.
The announcement comes after several months of clear succession moves. Back in August, Eli Simon stepped up as chief operating officer. On Monday, the board made it clear the leadership planning process hadn’t just started—it’s been underway for some time.
David Simon passed away on March 22 following a fight with cancer, Simon said, noting operations are set to carry on as usual. In early trading, SPG edged up under 0.1% to $184.59. Macerich climbed 2.3%, while Kimco Realty tacked on 0.9%.
Eli Simon, who came aboard in 2019 following stints with Och-Ziff Capital Management and Och-Ziff Real Estate, is holding onto both his COO title and his board spot. Last summer, when the company elevated him, David Simon pointed to the “strength and depth” of Simon’s management team—a quality he called a “hallmark” of the company’s success. PR Newswire
David Simon stepped into the predecessor business as CFO back in 1990, took the reins for its 1993 New York Stock Exchange debut, and by 1995, he was CEO at just 33, the company said. Simon pointed to his role in the DeBartolo Realty, Chelsea Property Group, Mills Corporation, and Taubman Centers deals—moves the firm claims altered the landscape of the sector.
David Simon, speaking in February, described 2025 as “another impressive year” after Simon Property Group posted record real estate FFO of $4.8 billion. The company handed $3.5 billion back to shareholders, leased out over 17 million square feet, and closed out 2025 with U.S. mall and outlet occupancy at 96.4%. Simon’s outlook for 2026 calls for real estate FFO to land between $13.00 and $13.25 per share. Simon Property Group, L.P.
Glasscock said the board planned to “honor his extraordinary legacy” and stick by the principles David Simon stood for. The board also expressed full confidence in Eli Simon. PR Newswire
Simon’s caution to investors isn’t new. Back in February, the company flagged concerns over e-commerce rivals, tenant bankruptcies, rising interest rates, tariffs, and turnover among top executives. All those issues still hang over the fresh leadership, according to its latest earnings disclosures.
Last month, David Simon left the supervisory board at Klépierre, the retail property group headquartered in Paris. His exit was made public on Feb. 20.
The Simons expressed “deep gratitude” for the outpouring of support and requested privacy, according to a family statement. The company noted that information on memorial arrangements would follow. PR Newswire
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