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CBL Properties COO to step down

Gus Stephas will retire as executive vice president and COO of retail real estate investment trust CBL Properties, effective Dec. 31.

Stephas has worked with CBL and its predecessor company for the last 40 years. He has served as executive vice president and COO since 2010.

Before his departure, Stephas will help transition his duties to other members of the REIT's executive team, including to Executive Vice President of Operations Mike Harrison, according to a release.