BEACHWOOD, Ohio, March 2, 2015 /PRNewswire/ -- DDR Corp.
(NYSE: DDR) today announced that it has appointed Luke J. Petherbridge to the role of chief
financial officer, effective immediately.
(Logo: http://photos.prnewswire.com/prnh/20131217/DDRLOGO)
"I am pleased to announce Luke's appointment as chief financial
officer of DDR. Luke is an accomplished executive with a proven
track record within our company, overseeing the balance sheet,
fostering strong banking and capital partner relationships, and
sourcing large scale transactions during his tenure with us," said
President and Chief Executive Officer David
Oakes. "I am very confident in Luke's ability to manage our
finances and our considerable transactional activity, and to work
closely with Paul and me on the company's strategy and
execution."
"I am excited about the expanded role," said Luke Petherbridge. "I look forward to continuing
to work closely with David and the team to further improve our
balance sheet and portfolio as we strive to enhance shareholder
value."
Mr. Petherbridge joined DDR as senior vice president of capital
markets in December 2011, and most
recently held the role of executive vice president of capital
markets and treasurer. Mr. Petherbridge formerly served as the
chief executive officer and a director of shopping center owner EDT
Retail Trust (formerly Macquarie DDR Trust), a company which had
been publicly traded on the Australian Stock Exchange and
previously managed in a joint venture between DDR and Macquarie
Group. Before that, Mr. Petherbridge served as director of
transactions with boutique real estate investment company Rubicon
Asset Management. While in this role, Mr. Petherbridge worked on
transactions focusing on United
States, European and Japanese real estate and real estate
structured finance. Mr. Petherbridge holds his bachelor of commerce
from Macquarie University.
About DDR Corp.
DDR is an owner and manager of 415 value-oriented shopping centers
representing 118 million square feet in 41 states and Puerto Rico. The Company's assets are
concentrated in high barrier-to-entry markets with stable
populations and high growth potential and its portfolio is actively
managed to create long-term shareholder value. DDR is a
self-administered and self-managed REIT operating as a fully
integrated real estate company, and is publicly traded on the New
York Stock Exchange under the ticker symbol DDR. Additional
information about the Company is available at www.ddr.com, as well
as on Twitter, LinkedIn and Facebook.
Safe Harbor
DDR Corp. considers portions of the
information in this press release to be forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, both as
amended, with respect to the Company's expectation for future
periods. Although the Company believes that the expectations
reflected in such forward-looking statements are based upon
reasonable assumptions, it can give no assurance that its
expectations will be achieved. For this purpose, any statements
contained herein that are not historical fact may be deemed to be
forward-looking statements. There are a number of important factors
that could cause our results to differ materially from those
indicated by such forward-looking statements, including, among
other factors, local conditions such as supply of space or a
reduction in demand for real estate in the area; competition from
other available space; dependence on rental income from real
property; the loss of, significant downsizing of or bankruptcy of a
major tenant; constructing properties or expansions that produce a
desired yield on investment; our ability to buy or sell assets on
commercially reasonable terms; our ability to complete acquisitions
or dispositions of assets under contract; our ability to secure
equity or debt financing on commercially acceptable terms or at
all; our ability to enter into definitive agreements with regard to
our financing and joint venture arrangements or our failure to
satisfy conditions to the completion of these arrangements; and the
success of our capital recycling strategy. For additional factors
that could cause the results of the Company to differ materially
from those indicated in the forward-looking statements, please
refer to the Company's Form 10-K for the year ended December 31, 2014. The Company undertakes no
obligation to publicly revise these forward-looking statements to
reflect events or circumstances that arise after the date
hereof.
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SOURCE DDR Corp.