Macerich Names Daniel Swanstrom Finance Chief as Scott Kingsmore Leaves

Dow Jones11-06

By Colin Kellaher

Macerich's top finance executive, Scott Kingsmore, is leaving the real-estate investment trust.

Macerich on Wednesday said Daniel Swanstrom II will succeed Kingsmore as senior executive vice president, chief financial officer and treasurer, effective Nov. 16.

Swanstrom, 47 years old, most recently served as founder and managing member of real-estate adviser DES Partners and previously served as finance chief of hotel real-estate investment trust CorePoint Lodging.

Macerich said Swanstrom will receive an annual base salary of $600,000 and an annual bonus with a target of 125% of his base pay.

Macerich said Kingsmore, who joined the Santa Monica, Calif., company in 1996 and has been finance chief since 2019, will become senior adviser on Nov. 16 and leave at the end of the year, adding that he will provide transitional services through March under a consulting agreement.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 06, 2024 07:46 ET (12:46 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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