DDR CEO Hurwitz To Leave At 2015-end

(RTTNews) - DDR Corp. (DDR) said Thursday that Chief Executive Officer Daniel Hurwitz and the company's Board of Directors have agreed not to renew his employment agreement, which expires December 31, 2015.

It is anticipated that Hurwitz will remain CEO through 2015 to facilitate a smooth leadership transition as the company continues to execute its strategic plan.

Hurwitz became CEO on January 1, 2010. He had served as President & Chief Operating Officer of the company from May 2007 through December 2009, as Senior Executive Vice President and Chief Investment Officer from May 2005 to May 2007, Executive Vice President of Leasing & Development from April 2002 to May 2005, and as Executive Vice President of Leasing from June 1999 through April 2002. He joined the company's Board of Directors in June 2009.

DDR said a committee of the Board will engage an executive search firm and consider internal and external candidates to succeed Hurwitz.