Ralph Lauren exec to join Simon

Former Ralph Lauren (NYSE:RL) real estate executive Stephen Yalof will be joining retail real estate company Simon as CEO of premium outlets and senior executive VP.

Yalof was senior VP of real estate at Ralph Lauren since 2002. He also worked for Gap (NYSE:GPS) as senior director of real estate. Yalof began cultivating an expertise in real estate under the leadership of Arnold Labich at New Plan Trust Realty, where he eventually became president of leasing for their factory outlet business.

"Steve is a highly regarded executive with a track record of success within the retail real estate industry," said David Simon, chairman and CEO of Simon. "His experience working at two of the largest global retailers will contribute significant value to our growth strategy for this business and further enhances our strong Premium Outlets team including Chief Operating Officer Mark Silvestri."

In the last decade Simon has steadily grown financially by more than 1,100 percent since 1993. Yalof will be in charge of furthering this growth.