Board of Directors

Paula J. Saban

Paula Saban has served as Chairperson of the Board of Directors of InvenTrust Properties since August 2017and Director since October 2004. Ms. Saban has worked in the financial services and banking industry for over 25 years. She began her career in 1978 with Continental Bank, which later merged into Bank of America. From 1978 to 1990, Ms. Saban held various consultative sales roles in treasury management and in traditional lending areas. She also managed client service teams and developed numerous client satisfaction programs. In 1990, Ms. Saban began designing and implementing various financial solutions for clients with Bank of America’s Private Bank and Banc of America Investment Services, Inc. Her clients included top management of publicly held companies and entrepreneurs. In addition to managing a diverse client portfolio, she was responsible for client management and overall client satisfaction. She retired from Bank of America in 2006 as a senior vice president/private client manager. In 1994, Ms. Saban and her husband started a construction products company, Newport Distribution, Inc., of which she is secretary and treasurer, and a principal stockholder.

Ms. Saban is a former president of the Fairview Elementary School PTA and a former trustee of both the Goodman Theatre and Urban Gateways. She served as the legislative chair of Illinois PTA District 37 and as liaison to the No Child Left Behind Task Force of School District 54. Ms. Saban currently serves as a project-based development director at the Association of Interim Executives and has previously served on the board of Hands On Suburban Chicago, a not-for-profit organization that matches community and corporate volunteers of all ages and skills with opportunities to connect and serve.

Stuart Aitken

Stuart Aitken has served as a Director since December 2017. Mr. Aitken brings an extensive background in technology, marketing and executive operating experience for large organizations. He has years of relevant industry experience in retail and consumer data analytics.

Mr. Aitken is a seasoned technology and marketing executive who currently serves as Chief Merchant and Marketing Officer at The Kroger Co, and was formerly Group Vice President of The Kroger Co. and Chief Executive Officer of 84.51°, a wholly owned data analytics subsidiary of Kroger. Aitken oversees sales, pricing, planning, promotions, execution, analytics, e-commerce and digital merchandising, as well as Kroger’s Our Brands private-label program. During the six years prior to joining Kroger, Mr. Aitken was CEO of dunnhumbyUSA, a predecessor organization to 84.51°. Prior to that, he served as Executive Vice President and Chief Marketing Officer for arts-and-crafts retailer Michael’s Stores. Previously, he led marketing strategies, loyalty marketing, data analytics, innovation and category management at Safeway, Inc. for nearly a decade.

Amanda Black

Amanda Black has served as a Director since August 2018. Ms. Black serves as the Chief Investment Officer of Jaguar Listed Property, formerly known as Northwood Securities (“NWS”), where she oversees all North American investments for the firm as portfolio manager for global and domestic real estate mutual funds and separate accounts. Prior to joining NWS in 2014, Ms. Black served as a Senior Vice President and Portfolio Manager at Ascent Investment Advisors from 2011 to 2014, where she co-managed a global REIT mutual fund and hedge fund. She has eighteen years of experience as an investor across a diverse set of investment firms and strategies with a specialization in real estate. She was a licensed CPA from 2001 to approximately 2004 and earned her CFA designation in 2005.

Daniel J. (DJ) Busch

Mr. Busch was appointed to the position of CEO & Director of InvenTrust Properties in August 2021. Prior to his appointment, Mr. Busch was appointed to President of InvenTrust in February 2021.  He served as Executive Vice President, Chief Financial Officer and Treasurer of InvenTrust since 2019.  Mr. Busch joined InvenTrust in September 2019, providing oversight to our financial and accounting practices, and ensuring the financial viability of the Company’s strategy. Prior to that, Mr. Busch served as Managing Director, Retail at Green Street Advisors, an independent research and advisory firm for commercial real estate industry in North America and Europe, where he conducted independent research on the shopping center, regional mall, and net lease sectors. Previously, Mr. Busch served as an equity research analyst at Telsey Advisory Group and worked in a corporate capacity at Petco Animal Supplies Inc.  He is a member of the Urban Land Institute, contributing as an active member on the Commercial and Retail Development Council.  Mr. Busch received a B.S. in Applied Economics and Management from Cornell University and an MBA with specializations in general finance, financial instruments and markets from New York University.

Thomas F. Glavin

Thomas Glavin has served as a Director of InvenTrust Properties since October 2007. Mr. Glavin is the owner of Thomas F. Glavin & Associates, Inc., a certified public accounting firm that he started in 1988. In that capacity, Mr. Glavin specializes in providing accounting and tax services to closely held companies. Mr. Glavin began his career at Vavrus & Associates, a real estate firm, located in Joliet, Illinois, that owned and managed apartment buildings and health clubs. At Vavrus & Associates, Mr. Glavin was an internal auditor responsible for reviewing and implementing internal controls. In 1984, Mr. Glavin began working in the tax department of Touche Ross & Co., where he specialized in international taxation. In addition to his accounting experience, Mr. Glavin also has been involved in the real estate business for nearly 20 years. Since 1997, Mr. Glavin has been a partner in Gateway Homes, which has zoned, developed and manages a 440-unit manufactured home park in Frankfort, Illinois.

Scott A. Nelson

Scott A. Nelson has served as a Director since November 2016. Mr. Nelson is Principal of SAN Prop Advisors, a retail real estate advisory firm that he started in early 2016. Clients of SAN Prop Advisors have included large retailers, developers and other corporations. Prior thereto, he served in various real estate capacities, including senior vice president positions, at Target Corporation, since 1995. Most recently, he served as Senior Vice President Target Properties Canada from 2015 to 2016; Senior Vice President, Target Properties – U.S. in 2014, and Senior Vice President, Target Real Estate from 2007 to 2014. In these roles, he was instrumental in the acquisition, development and optimization of Target’s retail real estate portfolio. Previously, Mr. Nelson spent 10 years at Mervyn’s, a West Coast department store where he served in various positions including Director of Real Estate. He has a CRX (Certified Retail Property Executive) designation from the International Council of Shopping Centers. Since 2009, Mr. Nelson has served as a board member of Heart of America, a non-profit focused on volunteering and learning environments in schools.

Smita Shah

Smita Shah is the Founder and CEO of SPAAN Tech, Inc., an architecture, engineering, and project management firm with 20+ years expertise in public and private infrastructure projects including transportation, aviation, facilities, and telecommunications systems.  She has an extensive business and technical background, earning her Bachelor of Science from Northwestern University, a Master of Science in Civil and Environmental Engineering from M.I.T., and a Post Graduate Certificate in Management Studies from Oxford University.

In recognition of Ms. Shah’s leadership and commitment to the community, she was appointed by President Biden to the President’s Commission on Asian Americans, Native Hawaiians, and Pacific Islanders.   Her additional civic engagement includes Board Member of the Museum of Science and Industry, Trustee of the Lincoln Academy of Illinois, Visiting Committee for MIT Department of Civil and Environmental Engineering, Environmental Law and Policy Center, and Harris School Council at University of Chicago.  She was the recent past Vice Chairman of Chicago Plan Commission, supporting the development of this great city for the past 14 years.

In addition, Ms. Shah serves on the board of MacLean Fogg Company and is a member of the audit committee.  She is a Co-Chair of Young President’s Organization (YPO) Chicago, and a member of the Economic Club and Commercial Club of Chicago. 

Ms. Shah has received numerous recognitions for her business and civic work, including from Crain’s Chicago Business (40 Under 40, Notable NonProfit Leader), American Society of Civil Engineers, and the American Consulting Engineers Council.  She served as a U.S. delegate for the APEC Women and the Economy Forum (WEF), and is a recipient of the congressionally recognized Ellis Island Medal of Honor.

Michael A. Stein

Michael A. Stein has served as a Director since November 2016. Mr. Stein served as Senior Vice President and Chief Financial Officer of ICOS Corporation, a biotechnology company, from 2001 until its acquisition by Eli Lilly in 2007. Prior thereto, Mr. Stein was Executive Vice President and Chief Financial Officer of Nordstrom, Inc. from 1998 to 2000, and served in various capacities with Marriott International, Inc. from 1989 to 1998, including Executive Vice President and Chief Financial Officer from 1993 to 1998. Previously, Mr. Stein spent nearly 20 years at Arthur Andersen LLP, where he was a Partner.

Mr. Stein has served on the board of directors of Apartment Investment and Management Company (AIMCO), a New York Stock Exchange listed public real estate investment trust focused on the ownership and management of apartment communities located in large markets in the United States, since 2004. He is currently the chairperson of the audit committee and a member of the compensation and human resources, nominating and corporate governance, and redevelopment and construction committees at AIMCO. He has also served on the board of directors of Providence Health & Services, a not-for-profit health system, from 2008 to 2016, and the Boards of Nautilus, Inc., Getty Images, Inc. and Fred Hutchinson Cancer Research Center.

Julian E. Whitehurst

Julian E. Whitehurst has served as a Director of InvenTrust Properties since March 2016. Mr. Whitehurst has served as a director of National Retail Properties, Inc. since February 2017, as Chief Executive Officer since April 2017, as President since May 2006, and as Chief Operating Officer since June 2004. In these roles, he is responsible for all aspects of operations for the REIT, including acquisitions, dispositions, development, asset management, underwriting, human resources and legal. Mr. Whitehurst also served as Executive Vice President, General Counsel and Secretary of National Retail Properties from 2003 to 2006. Prior to joining National Retail Properties, Mr. Whitehurst was a shareholder at the law firm of Lowndes, Drosdick, Doster, Kantor & Reed, P.A., where he practiced business and real estate law for over 20 years. He specialized in the representation of institutional investors in general business and real estate acquisition, disposition, finance and development. He serves on the board of trustees and the executive committee of Lake Highland Preparatory School. Mr. Whitehurst is a member of ICSC and Nareit, and serves on the Nareit Advisory Board of Governors.