Exhibit 99.1
Macerich Announces the Return of Diana M. Laing to Board of Directors
Laing Previously Served on Macerich Board from 2003-2022; Was Board Member at Spirit Realty
Capital During Macerich President and CEO Jackson Hsieh’s Successful Tenure at the Company
SANTA MONICA, Calif., July 22, 2024 (GLOBE NEWSWIRE) – Macerich (NYSE: MAC), one of the nation’s leading owners, operators and
developers of major retail properties in top markets, today announced the appointment of Diana M. Laing to its Board of Directors. Ms. Laing previously served on Macerich’s Board from 2003 through 2022.
With the addition of Ms. Laing, Macerich’s Board will have eight directors, seven of whom are independent.
A seasoned corporate finance executive with 35+ years in real estate investment and operating companies, Ms. Laing brings key skills and experience to
the Macerich Board – including her tenure as a member of the Board of Directors of Spirit Realty Capital when Macerich President and Chief Executive Officer Jackson Hsieh successfully led that company.
Ms. Laing’s areas of expertise include corporate strategy, risk management, public equity and corporate debt offerings, finance and capital markets,
corporate governance and sustainability matters, investor relations, together with extensive knowledge of IT and cybersecurity, including cybersecurity assessments, controls, protocols, monitoring and incident response, obtained through the
responsibility for IT department leadership and activities in each CFO role.
“On behalf of my fellow board members, we are incredibly pleased to
welcome Diana back to the Macerich Board,” said Hsieh. “I had the opportunity to work with Diana on Spirit Realty’s Board of Directors, and I have experienced firsthand the immense value she brings to her board position. Not only is
Diana a highly respected leader in the REIT industry overall, but her deep knowledge of Macerich, thanks to her many years of board membership here, will deliver sizable benefits to our company. I look forward to working with Diana as we continue to
execute our strategic objectives.”
In May, Macerich launched its detailed Path Forward plan designed to lead the company to elevated performance and
forward its mission to add long-term value for shareholders, partners, and customers. Macerich’s three-part plan is focused on simplifying its business, improving operational performance and reducing leverage.
“I am honored by the opportunity to rejoin the Macerich Board at this pivotal juncture for the company, which recently marked 30 years since IPO and has
outstanding new leadership in Jack Hsieh,” said Ms. Laing. “I look forward to supporting the success of Macerich’s well-crafted Path Forward strategy that concentrates the portfolio on its best properties, which are thriving
centers, and is designed to deliver a substantially stronger balance sheet. Macerich has a bright future and I am excited to be part of what’s ahead for this industry leader.”