GGP Gives Sandeep Mathrani Long-Term Contract Extension
The General Growth Properties CEO has received a five-year contract with an annual base salary of $1.2M, though he's got some pretty lucrative bonuses and incentives in place.
Sandeep Mathrani's contract includes a guaranteed minimum annual bonus of $2M for the 2015 and 2016 calendar years, according to a filing with the SEC. In addition, there is an incentive package in place that could land him $25M. Prior to joining GGP, Sandeep was president of retail for Vornado, one of the largest REITs in the country, with a total capitalization of more than $31B. He was hired away from Vornado after GGP emerged from bankruptcy and the Bucksbaums (the family that started the company) were let go by the company's board. He has since steered the Chicago firm into a major, successful, healthy firm.
