Simon Property Group said its chairman, chief executive and president, David Simon, died on March 22, 2026 at age 64 after a battle with cancer.
The company named Eli Simon chief executive and president effective immediately, while he remains chief operating officer and a director. Larry Glasscock was appointed non-executive chairman of the board.
David Simon had led the company since 1995, when he became CEO at age 33. Under his leadership, Simon Property Group said it grew into a portfolio of more than 250 properties and over 200 million square feet across North America, Europe and Asia.
The company said Simon Property Group has delivered cumulative total shareholder return of more than 4,500% since its IPO in 1993, when it raised nearly $1 billion in what it described as the largest real estate public stock offering at the time.
The release said the company has made major acquisitions including DeBartolo Realty Corporation, Corporate Property Investors, Chelsea Property Group, the Mills Corporation and Taubman Centers. It also said the company has invested billions in redeveloping and reimagining its properties.
Simon Property Group said it maintained A/A3 credit ratings and returned billions of dollars to shareholders through dividends while reinvesting in the portfolio.
The company said its operations will continue without interruption under the new leadership structure. The market has reacted to these announcements by moving the company's shares 1.43% to a price of $184.92. Check out the company's full 8-K submission here.
