On March 28, 2025, Seritage Growth Properties announced that Andrea Olshan will step down as Chief Executive Officer and President, and as a member of the Board, effective April 11, 2025. The Board of Trustees and Ms. Olshan mutually agreed on this transition.
Adam Metz, who has served as Board Chairman since 2022, has been appointed Interim CEO and President, also effective April 11, 2025. Mr. Metz will serve as the principal executive officer and will receive a monthly salary of $80,000. Mitchell Sabshon has been appointed Lead Independent Director.
The decision to transition the CEO role was based on the significant reduction of the Company’s portfolio, which has decreased from approximately 160 assets to 15 assets since March 2022. This reduction has altered the leadership needs for the company as it continues to execute its shareholder-approved Plan of Sale.
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