Seritage Growth Properties President And CEO Andrea Olshan To Step Down

(RTTNews) - Seritage Growth Properties (SRG) announced Friday that the Seritage Board of Trustees and Andrea Olshan have agreed that Olshan will step down as Chief Executive Officer and President (CEO) and as a member of the Board effective as of April 11, 2025.

Prior to Seritage, Olshan served as Chief Executive Officer of Olshan Properties from 2012 to 2021. She now serves as Chair of Olshan Properties' Board of Directors. She also served on the board of Morgans Hotel Group, chairing the compensation committee.

The Board has appointed Board Chairman Adam Metz, an independent member of the Board since 2022, as Interim CEO and President also effective as of April 11, 2025.

The decision to transition the CEO role was based on the fact that the Company has continued to pursue its shareholder approved Plan of Sale. As a result, the Company's needs in the CEO role have been reduced, and the parties agreed that the Company should change leadership at this time.

Metz has experience in leadership at both public and private real estate businesses as well as deep Board experience as further detailed in the Company's most recent Proxy Statement.

In appointing Metz as Interim CEO and President, the Board will continue to consider other alternatives for senior leadership, based on the pace of the Plan of Sale and other factors.