David Simon Dies at 64 After Cancer Battle

David Simon, who turned a small, family-owned firm into the Simon Property Group retail powerhouse, died on March 22 at the age of 64 following a fight with cancer. His son, Eli Simon, will step into the role of CEO and continue to serve as the company’s chief operating officer.

David Simon joined Melvin Simon & Associates, the firm’s preceding organization, in 1990 as chief financial officer. Three years later, he facilitated that company’s initial public offering on the New York Stock Exchange.

He was then named CEO in 1995 at the age of 33. Since then, Simon Property Group has delivered a total shareholder return of more than 4,500 percent, the company said in a statement. Today, the retail owner controls or has a stake in more than 250 properties comprising more than 200 million square feet across North America, Europe and Asia.

Simon was honored multiple times by Commercial Property Executive’s Executive of the Year program, most recently receiving an honorable mention in the Retail Property Executive category in 2019.

During his tenure as CEO, Simon focused on growing the REIT’s portfolio while investing in keeping assets updated and modern. This year, Simon Property Group is expected to complete a multimillion-dollar renovation of Smith Haven Mall, a 1.2 million-square-foot shopping mall in Lake Grove, N.Y., on Long Island. The firm has managed the shopping center since 1995.

In addition to appointing Eli Simon as CEO, the Simon Property Group Board of Directors also appointed Larry Glasscock to serve as non-executive chairman of the board. According to Bisnow, Glasscock has served on the Simon board since 2010.

Simon is survived by his wife of more than 40 years, Jackie, and their five children, Eli, Rebecca, Hannah, Sam and Noah, in addition to seven grandchildren.