WP Glimcher Inc. announced the following leadership changes to the Executive team and Board of Directors. On June 20, 2016, Michael P. Glimcher resigned from his positions as Chief Executive Officer of the company and Vice Chairman of the Board and also resigned from the Board effective immediately. On June 20, 2016, the Board appointed Mr. Louis G. Conforti, a current director of the company, as Interim Chief Executive Officer.

Mr. Conforti will remain as a member of the Board. Louis G. Conforti, 51, became a director of the company on May 27, 2014. Since April 2014, Mr. Conforti has been a Principal/Executive Director of Colony Capital Inc. as the Global Head of Strategy as well as focusing on publicly traded investing.

Prior to that, Mr. Conforti worked at the investment banking firms of CIBC World Markets and Alex. Brown & Sons within their real estate investment banking and capital markets divisions. On June 16, 2016, the board appointed Robert P. Demchak as Executive Vice President, General Counsel and Corporate Secretary of the company.

On June 20, 2016, the Board appointed Mr. Robert J. Laikin, a current director of the company, as non-executive Chairman of the Board. In connection with becoming the Chairman of the Board, Mr. Laikin's role as Lead Independent Director has been eliminated. Mr. Laikin will continue to serve on the Governance and Nominating and Compensation Committees of the Board.

On June 20, 2016, the Board appointed Mr. John F. Levy and Mr. John F. Dillon as directors. The Board appointed Mr. Levy as Chair of the company's Audit Committee and as a member of the Governance and Nominating Committee and Mr. Dillon as Chair of the company's Compensation Committee and as a member of the Audit Committee. The Board now consists of five independent members: Messrs.

Laikin, Dillon and Levy, Ms. Jackie R. Soffer and Mr. Marvin L. White, as well as Messrs. Conforti and Ordan. Ms. Soffer will continue to serve as Chair of the Governance and Nominating Committee and as a member of the Compensation Committee and Mr. White will continue to serve as a member of the Audit and Governance and Nominating Committees.