Longtime Chattanooga executive John N. Foy is retiring from CBL & Associates Properties Inc. after 44 years with the shopping center company and its predecessor.
Foy leaves as an officer and vice chairman of CBL's board, the company said in a statement. He'll remain through the year to assist in the transition.
"Since John first joined my family's shopping center development company in 1968, his foresight and expertise has ensured that we were always in a position of financial strength and able to pursue new growth opportunities," said Charles B. Lebovitz, CBL chairman.
Lebovitz said Foy is "well recognized and respected throughout the industry for his financial discipline and creative leadership. The strength of character with which John guides both his personal and professional life has established a culture within the CBL organization of integrity and excellence that will continue to guide our progress into the future."
Foy said the decision to retire isn't easy, "but I feel that we have a great management team in place to continue CBL's track record of outstanding growth."
"I am proud of my role in helping to establish CBL as the remarkable organization that it is today," he said. "I look forward to having the time to pursue new interests and am confident that CBL will continue to produce excellent results for its shareholders."