Macerich published its detailed Path-Forward plan to simplify the business, improve operational performance and reduce leverage under the leadership of new President and CEO Jack Hsieh. Macerich’s plan is designed to: Deleverage the capital structure to a low-to-mid 6x range over the next three to four years. Invest in and fortify key assets in the portfolio. Proactively consolidate selected joint venture assets that are core to the overall strategy. Deliver clean FFO/share launch point of ~$1.80/share over the next three to four years. Improve various internal processes that are being evaluated and realigned to achieve outstanding operational results. Position the company to take an offensive stance on acquisitions, reinvestment, and selected development.
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