Simon Property CFO Andy Juster leaves

  • Push-out Score suggests push-out forces
  • After about four years in the position
  • Accolades, praise and words of regret for Juster
  • No successor named

(exechange) — Indianapolis, Indiana, March 20, 2018 — Andy Juster, finance chief of Simon Property, leaves. His departure is made public at an early stage. As announced by Simon Property Group, Inc. in a news release on Tuesday, March 20, 2018, Andrew A. (Andy) Juster, Chief Financial Officer, leaves the commercial real estate company after about four years in the position, effective at the end of this year.

Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past 12 months was 6 years, according to data compiled by exechange.

Long goodbye

It is a long goodbye. The announcement of Juster’s move comes up to nine months prior to his planned departure from the post of CFO.

In general, a top executive who announces the departure very early may be considered a lame duck.

Lengthy lead times give boards extra time to find replacements, and they also create uncertainty. Would-be successors may jockey for attention and workers may wonder who is actually in charge.

Generally speaking, lame-duck leaders can take a forceful role in selecting a successor and are not expected to launch major shifts.

Simon Property did not name a replacement for the position of Chief Financial Officer.

No reason given

In the announcement, Simon Property did not explicitly explain the reason for Juster’s move, leaving room for speculation.

Precise information about Juster’s future plans was not immediately available.

Share price decline

The change follows a decline in the share price of Simon Property Group, Inc. since July 2016.

Chaired by David Simon

Simon Property Group, Inc. is chaired by David Simon.

David E. Simon has been the Chief Executive Officer of Simon Property Group, Inc. since 1995 and its Chairman since October 25, 2007 and Director since 1993.

In the position of CFO since 2014

Andrew A. Juster has been the Chief Financial Officer of Simon Property Group, Inc. since December 31, 2014 and has been its Executive Vice President since 2008.

Juster served as a Treasurer of Simon Property Group, Inc. since 2001 until 2008.

He joined Melvin Simon & Associates, Inc. in 1989 and held various financial positions with MSA until 1993 and thereafter has held various positions with Simon Property.


As a general rule, when a top manager announces to step down with no successor available, it is a signal that the change was unexpected and too early.

Push-out Score suggests push-out forces

It is not completely certain what forces eventually triggered Andy Juster’s move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.

Read the full story in the exechange report 13.2018 ($).