BEACHWOOD, OH—DDR Corp.’s CEO, Daniel Hurwitz, will step down from the position he has held for the past four years, the shopping center REIT said Thursday afternoon. Hurwitz and DDR’s board have agreed not to renew his employment agreement, which expires Dec. 31, 2015, although it’s expected that he will stay on as CEO until then to ensure a smooth transition.

For more than 15 years, says DDR’s board chairman, Terrance R. Ahern, Hurwitz “has played key roles in DDR’s strategy of building a high quality operating platform, prime portfolio and strong balance sheet. We thank him for his many contributions.”

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