CBL Properties announced that Jonathan Heller is resigning as Chairman of the Board, effective January 25, 2023. Mr. Heller notified the Company that he is stepping down as Chairman to focus his time and energy on building his new investment firm, Helix Partners. Mr. Heller joined CBL's board in October 2021 and became its Chairman in November 2021, in conjunction with CBL's successful restructuring.

CBL's current Lead Independent Director, David Contis, has been appointed as Chairman of the Board in light of Mr. Heller's departure. Mr. Contis has extensive real estate and capital markets experience having served as President of the Mall Platform for Simon Property Group, President of real estate for Sam Zell's Equity Group Investments and EVP and Chief Operating officer of The Macerich Company. Mr. Contis is the founder and president of Agora Advisors, Inc., which provides consulting services to real estate and retail companies in North and South America.