ROCKVILLE, Md., April 12, 2016 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) announced today that Chief Financial Officer, James M. Taylor, will be stepping down from his role effective May 19, 2016, in order to assume the position of Chief Executive Officer and President of Brixmor Property Group, Inc. in New York. Mr. Taylor has served as Federal Realty's Chief Financial Officer since 2012.
"I'm saddened for Federal but happy for the CEO opportunity afforded Jim," said Don Wood, President & CEO." Jim Taylor has been both a trusted friend and advisor to both me and the entire Federal Realty management team and we'll miss his wise counsel and leadership. The value that Jim has brought to our organization over these past four years has been immeasurable" Wood continued.
The Trust has engaged Grant Morgan & Associates of Bethesda, Md. to conduct the search for Mr. Taylor's replacement which will begin immediately.
About Federal Realty
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, our mission is to deliver long term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Our expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 90 properties include over 2,700 tenants, in approximately 21.4 million square feet, and over 1,700 residential units.
Federal Realty has paid quarterly dividends to its shareholders continuously since its founding in 1962, and has increased its dividend rate for 48 consecutive years, the longest record in the REIT industry. Federal Realty shares are traded on the NYSE under the symbol FRT.
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SOURCE Federal Realty Investment Trust