JACKSONVILLE, FL, June 9, 2008--(BUSINESS WIRE)--
Mary Lou Fiala, (top right photo) Regency Centers (NYSE:REG) president and chief operating officer, formally accepted the position as 49th chairman of the International Council of Shopping Centers, Inc. (ICSC) during RECon, ICSC's annual meeting in Las Vegas.
Fiala was elected by the ICSC board of trustees to serve as the association's chair during 2008-2009. Fiala succeeds Rene Tremblay, (middle right photo) president of Ivanhoe Cambridge, Montreal, Quebec, Canada.
Since 1997, Fiala has been an active member of ICSC and has served on the organization's board of trustees fo
r the past five years.
According to Michael P. Kercheval, (photo at left) ICSC's president and CEO, Fiala is highly qualified to serve as the head of the worldwide organization as retailers, developers, and investors look for opportunities beyond their traditional borders.
"Mary Lou's unique knowledge of what it takes to be both a successful retailer and a successful shopping center developer will serve our members well. We look forward to working with her," Kercheval said.
During her acceptance speech as chairman, Fiala focused on the industry's challenges with the theme of "Tucking and Rolling Together". She acknowledged that current economic times are difficult for many retailers and developers. However, Fiala doesn't agree that the current economy has burst.
"I don't believe that the economic situation is as bad as it's being reported. Unemployment is low and wages are high. We can also consider that current economic arguments may be being fueled by two political parties for presidential election purposes," she said.
As a veteran professional in the retail sector, Fiala has experienced many economic challenges in the industry including the energy crisis in the 1970s to the credit crunch of the 1990s.
"I accept my role as ICSC chair with remembrances of my parents, who survived tough times during the 1920s as meat purveyors, and my father's service in World War II. My father was a paratrooper and during that time a common practice for surviving the jumps from antiquated airplanes was called, 'Tuck and Roll'," stated Fiala.
"I believe that if we as an industry 'tuck and roll' now, then we'll learn to spring back into action at any given moment. Employing this philosophy, I believe that we'll be better prepared to weather any economic forecast," Fiala said during her acceptance speech.
According to Fiala, with the support of fellow members and the organization's multitude of programs, I
CSC provides a forum to share professional knowledge and networks among its members. "Experiencing this year's convention, I feel a great unification among many in our industry who could be construed as competitors," said Fiala.
"We're all in this together and to make our economy work we must find better and more innovative ways to improve our decisions in retail real estate development, store operations, diversity and dynamics in our work force and positive planning for the future. My mission this year is to provide direction and answers to some very difficult issues facing all of us," said Fiala.
Fiala credits her education and expertise in retail real estate to her mentor Martin "Hap" Stein, Jr. (middle left photo), who serves as Regency Centers Chairman and CEO.
"Hap has served as an excellent example in leadership at Regency Centers and as this year's president of National Real Estate Investment Trust (NAREIT). Both Hap and I share the same philosophy to forg
e ahead with cycle-tested insights to help our counterparts in the industry continue to fare better during tough times," she said.
Fiala joined Regency Centers in 1998. In her role as President and Chief Operating Officer, she oversees the operational management of Regency's retail centers nationwide.
Prior to working with Regency, Fiala served as managing director of Security Capital Global Strategic Group Incorporated and senior vice president and director of stores for Macy's East/Federated Department Stores. Fiala also served as seni
or vice president of Henri Bendel and senior vice president and regional director of stores for Federated's Burdine's Division.
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