Regency Centers Announces CEO and Executive Succession Plan
August 01 2019 - 4:14PM
Regency Centers Corporation (“Regency” or the “Company”)
(NASDAQ:REG), the preeminent national owner, operator, and
developer of shopping centers, announced today the transition of
Martin E. “Hap” Stein, Jr. from Chairman and Chief Executive
Officer to Executive Chairman, effective January 1, 2020.
Concurrent with this announcement, Regency’s Board of Directors is
pleased to announce that Lisa Palmer will become President and
Chief Executive Officer, effective January 1, 2020.
As part of the Company’s succession plan, Ms.
Palmer will vacate her role as Chief Financial Officer, retaining
her position as President, effective August 12, 2019, with Mike Mas
assuming the position of Executive Vice President, Chief Financial
Officer, at that time. Additionally, and to more accurately reflect
their roles within the Company, Jim Thompson will become Executive
Vice President, Chief Operating Officer, and Mac Chandler will
become Executive Vice President, Chief Investment Officer,
effective August 12, 2019.
Mr. Stein has served as Chief Executive Officer
since the Company’s initial public offering in 1993 and as Chairman
since 1999. He joined Regency’s predecessor in 1976, worked in
leasing and asset management, and served as President from 1981
until the Company went public. Under Hap’s leadership, Regency
Centers has become the leading national shopping-center REIT.
“I am deeply gratified for the opportunity to
have worked with the best professionals in the business for so many
years,” said Mr. Stein. “Regency’s people are the cornerstone of
the Company and help us live out our values each and every day.
Lisa is the embodiment of those values and is devoted to Regency’s
special culture.”
“Lisa has a deep understanding of the key
aspects of our business, our strategy, and our vision to be the
preeminent national shopping center owner, operator, and
developer,” Mr. Stein continued. “She is highly respected in the
capital markets, by those with whom she has worked within the
shopping center industry, and, importantly, by fellow members of
Regency’s wonderful team. I am extremely confident in Regency’s
future in the talented hands of Lisa Palmer.”
C. Ronald Blankenship, Lead Director of
Regency’s Board of Directors, said, “Hap has steadfastly led
Regency Centers since its IPO over 25 years ago. The Company’s
well-conceived growth through several real estate cycles and the
resulting impressive shareholder return is directly attributable to
Hap’s far-sighted direction and consistent execution. The
appointment of Lisa as Regency’s President and Chief Executive
Officer is the result of the Board’s rigorous and well-constructed
succession plan that has been a focus over the last several years.
Lisa is an exceptional executive, and the Board is excited about
her leading Regency into the future.”
Lisa Palmer has been President of Regency since
January 1, 2016, and Chief Financial Officer since January 2013.
She has also served as a director since 2018. Lisa joined the
Company in 1996 and has served in various capacities including
Senior Vice President of Capital Markets.
“I am honored to have the opportunity to lead
Regency Centers,” said Ms. Palmer. “I am truly humbled by the
confidence Hap and the Board of Directors have placed in me.”
“I’d also like to congratulate Mike Mas on his
well-deserved promotion to Chief Financial Officer,” Ms. Palmer
continued. “Mike brings a wealth of industry expertise, knowledge,
and strong relationships within the investment community to that
role. Regency is well-positioned for the future, and I look forward
to working closely – not only with Mike – but with Mac, Jim, and
our outstanding team in continuing to grow shareholder value and
building upon the great Company that we are today because of Hap
and all of the leaders that have come before me.”
About Regency Centers
Corporation (NASDAQ: REG)
Regency Centers is the preeminent national
owner, operator, and developer of shopping centers located in
affluent and densely populated trade areas. Our portfolio includes
thriving properties merchandised with highly productive grocers,
restaurants, service providers, and best-in-class retailers that
connect to our neighborhoods, communities, and customers. Operating
as a fully integrated real estate company, Regency
Centers is a qualified real estate investment trust (REIT)
that is self-administered, self-managed, and
an S&P 500 Index member. For more information, please
visit regencycenters.com.
Laura Clark Senior Vice President, Capital
Markets904-598-7831LauraClark@RegencyCenters.com
Jan HanakVice President, Marketing +
Communications904-598-7443JanHanak@RegencyCenters.com
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