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| Martin (Hap) Stein |
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.
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| Lisa Palmer |
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.
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| Mike Mas |
"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 .”
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| Mac Chandler |
"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.”
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| Jim Thompson |
“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.
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| C. Ronald Blankenship |
“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.”
Regency Centers Corporation (“Regency” or the “Company”) today reported financial and operating results for the period ended June 30, 2019 .
Second Quarter 2019 Highlights
- For the three months ended
June 30, 2019 , Net Income Attributable to Common Stockholders (“Net Income”) of$0.31 per diluted share. - Second quarter NAREIT Funds From Operations (“NAREIT FFO”) of
$0.95 per diluted share, which includes a$0.02 per share charge from one-time non-cash expenses. - Year-to-date same property Net Operating Income (“NOI”), excluding termination fees, increased 2.1%, as compared to the same period in 2018, driven by Base Rent growth of 2.5%.
Laura Clark
Senior Vice President, Capital Markets
904-598-7831
Jan Hanak
Vice President, Marketing + Communications
904-598-7443
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