General Growth names Brookfield’s Flatt chairman post-bankruptcy emergence

By Peter Woodifield
Bloomberg News

CHICAGO – General Growth Properties Inc., parent company of Providence Place mall and the Silver City Galleria in Taunton, said Bruce Flatt will become chairman of the board after the company emerges from bankruptcy next month.

Flatt, CEO of Brookfield Asset Management Inc., was among nine individuals appointed to the new board, Chicago-based General Growth said Tuesday in a statement. General Growth CEO Adam Metz will also join the board.

General Growth is scheduled to seek court approval in November to exit bankruptcy after receiving financial commitments from Brookfield, Fairholme Capital Management LLC and Pershing Square Capital Management LP.

Other directors include Richard “Ric” Clark, CEO of Brookfield Properties Corp., Cyrus Madon, senior managing partner at Brookfield Asset Management, Sheli Rosenberg, currently lead director of General Growth, and John Haley, a current General Growth board member. None of the company’s other senior executives will be on the board, according to the statement.