Taubman COO Elected ICSC Chairman - Analyst Blog

William S. Taubman, the Chief Operating Officer (COO) of Taubman Centers Inc. (TCO), a real estate investment trust (REIT), was recently elected as the Chairman of the International Council of Shopping Centers (ICSC), the global trade association of the shopping center industry.

William S. Taubman has been an active member of ICSC since February 1992 and was elected to its Board of Trustees in 2006. With his appointment as the Chairman for the 2010-2011 term, ICSC intends to leverage on his vast industry knowledge to guide it to safe shores as the industry gradually emerges from the grips of the global recession.

Taubman Centers owns, develops, acquires and operates regional and super-regional shopping centers throughout the U.S. and Asia. Retail shopping centers spanning over 400,000 square feet of gross leaseable area (GLA) are generally referred to as regional shopping centers, while those with GLA in excess of 800,000 square feet are called super-regional shopping centers. A large number of these shopping centers are strategically located in major metropolitan areas, including Los Angeles, San Francisco, Denver, Detroit, Phoenix, Miami, Dallas, Tampa, Orlando and Washington DC.

Taubman Centers has a strong portfolio of the best-in-class retail malls that generate the highest average sales per square foot in the country. The company also has a healthy balance sheet with minimal debt maturities and adequate liquidity. Consequently, Taubman Centers is better placed than most of its peers to withstand the challenges of the macroeconomic environment. Our long-term recommendation for Taubman Centers is Neutral, as we anticipate it to perform in line with the broader market.
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