CBL Properties chairman Heller resigns

CBL Properties announced that Jonathan Heller is resigning as Chairman of the Board, effective January 25, 2023. Mr. Heller notified the Company that he is stepping down as Chairman to focus his time and energy on building his new investment firm, Helix Partners. Mr. Heller joined CBL‘s board in October 2021 and became its Chairman in November 2021, in conjunction with CBL’s successful restructuring. "We are immensely grateful to Jonathan for his leadership and service to the company," said Stephen D. Lebovitz, director and CEO of CBL. "As a leading voice for CBL’s creditors during our restructuring process, Jonathan exhibited an unwavering commitment to working with CBL to create a sustainable financial structure for the company’s future. As Chairman, Jonathan continued these efforts and provided important guidance to Management and the Board. CBL now enjoys a strong financial position, including a low leverage balance sheet which primarily consists of non-recourse mortgage debt, as well as a robust cash position and healthy free cash flow generation. We appreciate Jonathan’s dedication to furthering CBL’s success and wish him well as he takes on his next opportunity."