Jack Hsieh, president and CEO of Macerich (NYSE: MAC), sat down for a video interview during Nareit’s REITworld: 2024 Annual Conference in Las Vegas on Nov. 18-21.
Hsieh reflected on the company’s progress and future strategies, addressing inquiries about Macerich’s operational initiatives, market challenges, and plans for 2025.
He explained that investors primarily sought updates on the company's "Path Forward" plan introduced in 2024. He acknowledged concerns about tariffs, labor markets, interest rates, and inflation, noting that such questions were typical for leadership teams in the current economic climate.
Discussing asset management, Hsieh highlighted significant activity in acquisitions and dispositions.
“We announced $1.2 billion of assets that are either for sale, closed, or in the process of renegotiation with lenders,” he shared, emphasizing the company’s proactive approach.
Looking ahead, Hsieh expressed enthusiasm for Macerich's operational enhancements. The company is implementing a five-year operating platform for better forecasting and performance management. The system, currently in its mid-development stage, aims to streamline processes and improve long-term planning.
"Getting the company to operate on a five-year operating platform forecasting is something I'm really excited about," Hsieh said.