Retail's Downturn Is Hurting Mall Executives' Wallets
Compensation packages tied to performance metrics are costing executives money.
Executives at companies that own and operate malls are beginning to feel the same pain as investors as the downturn in retail affects their compensation packages, the Wall Street Journal reported Wednesday.
Executives at some of the largest mall owners including Simon Property Group Inc. (SPG) - Get Simon Property Group, Inc. Report and GGP Inc. (GGP) are seeing their compensation reduced based on performance metrics, according to the Journal.
Simon Property, the country's largest mall operator, for example, has eliminated the stock grants tied to the company's long-term performance for top executives.
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