Regency Centers is reorganizing its senior executive management team for 2016, following president and COO Brian M. Smith's retirement at the end of this year.
Smith will also step down from the Board of Directors, but he'll continue to act as a consultant for 12 months, for a smooth transition. Lisa Palmer will step in as president, while retaining her position as CFO; current Managing Director-East Jim Thompson will be EVP of Operations; and Managing Director-West Dan M. "Mac" Chandler III will become EVP of Development.
Palmer has been at Regency for 20 years and will direct acquisitions and dispositions, while Thompson and Chandler will use their extensive shopping center experience to oversee asset management and development. Regency expects the shake-up to result in a decrease of $2.1M in net income for 2015. [BW]
