DDR CEO Daniel Hurwitz to exit, company launches search for new chief

Beachwood, Ohio -- DDR Corp. announced that CEO Daniel B. Hurwitz will be leaving the company next year, as he and the board agreed not to renew his employment agreement, which expires December 31, 2015.



According to DDR, Hurwitz is expected to remain CEO through 2015 to facilitate a smooth leadership transition.



Hurwitz was named CEO on January 1, 2010, after serving as the company’s president and COO for two years prior. He has worked for DDR in various senior executive capacities since June 1999.



“DDR's next CEO will inherit a high-quality portfolio of assets operated by even higher-quality people. I am confident that DDR's best days are yet to come," said Hurwitz in a statement.



DDR will engage an executive search firm and consider internal and external candidates to succeed Hurwitz.



DDR owns and manages 390 value-oriented shopping centers representing 108 million sq. ft. in 39 states and Puerto Rico.