Simon Property Group Inc. (NYSE: SPG) announced that David Simon, the company's chairman, chief executive officer and president, died on March 22 at age 64 after battling cancer.

Simon passed away peacefully surrounded by his family, according to a company statement. He had led Simon Property Group for more than three decades, transforming it from a regional family real estate business into what the company describes as the largest retail real estate company globally.

The board of directors has appointed Eli Simon as the new chief executive officer and president, effective immediately. Eli Simon will continue in his roles as chief operating officer and director. Larry Glasscock has been named non-executive chairman of the board.

David Simon joined the company's predecessor, Melvin Simon & Associates, as chief financial officer in 1990. He became CEO in 1995 at age 33 and orchestrated the company's initial public offering in 1993, which raised nearly $1 billion in what was then the largest real estate public stock offering.

Under his leadership, Simon Property Group completed major acquisitions including DeBartolo Realty Corporation, Corporate Property Investors, Chelsea Property Group, the Mills Corporation and Taubman Centers. At the time of his death, the company owned or held interests in more than 250 properties comprising over 200 million square feet across North America, Europe and Asia.

Simon was a graduate of Indiana University Kelley School of Business and Columbia University's Graduate School of Business. Before joining the family business, he worked as an investment banker at First Boston Corporation and Wasserstein Perella & Co.

The Simon family requested that memorial contributions be made to the Anti Defamation League, American Jewish Committee, UJA Federation of New York and Foundation to Combat Antisemitism. Details regarding memorial services will be announced later.