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Allan B. Hubbard's Retirement from Simon Property Group

On March 20, 2025, Simon Property Group, a prominent real estate investment trust, made a significant announcement regarding one of its long-serving board members, Allan B. Hubbard. With a career marked by dedication and excellence, Mr. Hubbard has decided to retire, with his last day on the board set for May 14, 2025. This change comes as he opts not to seek re-election at the company’s upcoming Annual Meeting.

Having joined the Simon board in 2009, Mr. Hubbard leaves behind an impressive legacy, contributing his vast expertise to the company's growth through the years. His leadership has been instrumental, navigating the company through various phases of development in the highly competitive real estate sector where Simon operates. Under his stewardship, the company raised its profile, overseeing the ownership of an extensive portfolio that blends shopping, dining, and entertainment experiences across multiple destinations.

Throughout his tenure, he was involved in several essential committees, notably the Compensation and Human Capital Committee and the Governance and Nominating Committee. Mr. Hubbard consistently advocated for responsible corporate governance, providing reliable oversight while also steering strategic direction to propel the company forward.

Expressing his gratitude, David Simon, the Chairman and CEO of Simon Property Group, stated, “We are deeply grateful for Al's years of leadership and distinguished service to the Board. While we will miss his presence on the Board, we wish him the very best in his retirement and are confident that the foundation he helped build will continue to guide us forward.” This sentiment reflects the high esteem in which Mr. Hubbard is held within the organization, a testament to his significant contributions.

In a statement reflecting on his journey, Mr. Hubbard remarked, “It has been an honor to serve on the Board of such a dynamic and forward-thinking company. I am proud of what we have accomplished together, and I have great confidence in the leadership team and the continued growth of Simon®.”

His departure marks not just the end of an era but also sets the stage for new possibilities for Simon Property Group as they prepare for future challenges and opportunities. With properties spanning North America, Europe, and Asia, Simon remains a leader in creating community spaces that engage millions every day, generating billions in annual sales.

As Simon Property Group looks ahead, it aims to build upon the solid foundation laid by dedicated individuals like Allan B. Hubbard. His exemplary service and commitment to excellence will not be forgotten, inspiring current and future board members as they embrace the company’s next chapter.

As Simon continues to thrive and innovate in the retail real estate landscape, the departure of such a pivotal figure serves as a poignant reminder of the enduring impact that dedicated leadership has on the trajectory of an organization. Under the guidance of Mr. Hubbard, Simon Property Group rises to new heights, underscoring the importance of strategic vision and collaborative governance that he championed throughout his illustrious career.