About Jackson Hsieh
Jackson Hsieh, president and CEO of Macerich, discussed the company's progress and plans during a video interview at Nareit's REITworld: 2024 Annual conference. He stated that investor questions have focused on the company's "path forward plan" and included topics such as the incoming administration, tariffs, labor, interest rates, and inflation. Hsieh noted that Macerich has been active in asset management, announcing $1.2 billion in assets that are either for sale, closed, or in renegotiation with lenders, and he said he expects the process to be "much more complete" by 2025.
Hsieh also highlighted new process improvement initiatives aimed at transitioning the company to a five-year operating platform. He expressed excitement about improvements to forecasting, describing the work as in its middle stages and stating that the company will lay out those processes and tools for 2025 and beyond.
Source: AI-verified profile updated from Jackson Hsieh's recent appearances.
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Transcript (7 segments)
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Jackson Hsieh0:00
We have several new process improvement initiatives throughout the company. Getting the company to operate on a five-year operating platform and forecasting is something I'm really excited about, and we're in the middle stages of completing that work. We'll sort of lay out those processes and tools going into 2025 and beyond.
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Diana0:23
I'm here with Jack Hsieh, president and CEO of Macerich. As you meet with investors here at REITworld, are there common questions or issues that you're responding to?
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Jackson Hsieh0:30
Thanks, Diana. Good morning. Most of the questions have been follow-up on our Path Forward plan that we laid out with investors earlier this year, and really more progress updates. Getting questions about the new president-elect, incoming administration, tariffs, labor, interest rates, inflation—the normal kinds of questions that I'm sure all of these management teams are getting.
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Diana0:53
And how active do you expect to be in the year ahead regarding acquisitions or dispositions?
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Jackson Hsieh0:57
Well, year to date, we're already very, very active. We announced $1.2 billion of assets that are either for sale, closed, or in the process of renegotiation with lenders, and I suspect that we'll be much more complete in our process going into 2025.
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Diana1:15
And is there a project or initiative that you're particularly excited about for 2025?
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Jackson Hsieh1:20
I'd say the thing that's most exciting for me is we have several new process improvement initiatives throughout the company. Getting the company to operate on a five-year operating platform and forecasting is something I'm really excited about, and we're in the middle stages of completing that work. We'll sort of lay out those processes and tools going into 2025 and beyond.
