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BLOOMFIELD HILLS, MI-Luxury mall owner Taubman Centers has promoted two of its senior executives, announcing new postings for Lisa A. Payne and William S. Taubman. Taubman is one of the sons of company founder A. Alfred Taubman.

Payne, who has served as Taubman Centers’ chief financial officer since joining the company in 1997, has assumed the additional responsibilities of vice chairman. Prior to joining Taubman in 1997, Payne vice president of Goldman Sachs’ Investment Banking Division.

William Taubman, executive vice president of the company since 1994, has been appointed chief operating officer. The company’s three major business units–leasing, development and center operations–report to him. Taubman joined the company in 1986 from Oppenheimer & Co. Both Payne and William Taubman are members of theTaubman Centers board.

“We are pleased to recognize the contributions of these two exceptional executives,” says Robert S. Taubman, chairman, president and CEO of Taubman Centers, in a statement. “With their continuing outstanding leadership, we are confident that the company is positioned to achieve market leading profitability and growth.”

Robert S. Taubman and William S. Taubman are brothers. The Michigan-based REIT owns and/or manages 22 shopping centers in 10 states.

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