Federal Realty Announces Executive Promotions

Rhea-AI Summary

Federal Realty Investment Trust (NYSE: FRT) announced on February 7, 2023, several executive promotions aimed at enhancing its operations. Robyn Sarrat was promoted to Vice President, Legal Leasing, managing lease documentation. Becca Walker becomes Vice President, Head of Legal – Real Estate, overseeing legal matters across operations. Jan Sweetnam steps into the role of Executive Vice President, Chief Investment Officer, focusing on growth initiatives. Other promotions include Jeff Kreshek as Senior Vice President, Western Region President, and Emily McLachlan as Vice President, Sustainability, advancing ESG commitments.

Positive

• Promotions of key executives may strengthen operational efficiency and leadership.
• Sarrat and Walker's roles enhance legal oversight, potentially improving leasing processes.
• Sweetnam's appointment focuses on growth, indicating a strategy for portfolio expansion.
• McLachlan's role signifies a commitment to ESG, aligning with investor interests.

Negative

• None.

NORTH BETHESDA, Md., Feb. 7, 2023 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) is proud to announce a series of executive promotions that recognize the contributions and expanded responsibilities of a number of long-serving team members.

In its legal leasing function, two additional senior positions have been created to better serve its growing operations:

• Robyn Sarrat, who has been with the company since 2006, has been promoted to Vice President, Legal Leasing. In this capacity, she will manage Federal Realty's legal leasing function and oversee lease documentation across the organization, including new leases, renewals, and amendments.
  
  
• Becca Walker has been promoted to Vice President, Head of Legal – Real Estate. Ms. Walker will lead Federal Realty's legal function with respect to all aspects of its operating properties, including leasing, landlord-tenant matters, development and litigation management. Ms. Walker joined the company in 2015.

In its West Coast operation, the company is formalizing promotions necessitated with the appointment of Jeffrey S. Berkes to President & Chief Operating Officer two years ago:

• Jan Sweetnam, a seasoned executive with more than three decades in the industry, is stepping into the role of Executive Vice President, Chief Investment Officer, in which he will lead the company's growth initiatives, including vertical development opportunities at the company's existing assets, acquisitions, dispositions, and investment performance. Mr. Sweetnam has held several senior positions since joining Federal Realty in 1997 and has been instrumental in growing the company's West Coast portfolio. In 2021, he was appointed Executive Vice President, Western Region President.
  
  
• Jeff Kreshek succeeds Jan Sweetnam as Senior Vice President, Western Region President. In this capacity, he will oversee the asset management, leasing and operating teams for Federal Realty's West Coast portfolio, which comprises nearly 6.5 million square feet of some of the best retail and mixed-use real estate in the country. Mr. Kreshek, who joined the company in 2011 and most recently served as Senior Vice President, West Coast Leasing, has over 30 years of experience in leasing, entitlements, property and asset management with an emphasis on redeveloping and repositioning underperforming assets.
  
  
• Christian Irwin is assuming the role of Vice President, West Coast Leasing, in which he will oversee and direct all leasing activities for Federal Realty's West Coast portfolio, including new retailer relationships, lease negotiations, and leading his region's leasing team. Mr. Irwin joined the company in 2017 and has been in the industry since 2004.

A senior position has been created to bolster the company's commitment to long-term value creation through ESG-focused initiatives:

• Emily McLachlan has been promoted to Vice President, Sustainability. Ms. McLachlan, who joined the company in 2018, will be responsible for driving forward Federal Realty's ESG program. This includes setting and implementing portfolio decarbonization strategies, managing the company's solar portfolio, and overseeing all ESG reporting efforts.

In recognition of his invaluable contributions spearheading the company's highly productive specialty leasing efforts:

• Mike Kelleher has been promoted to Senior Vice President, Specialty Revenue. The three-decade industry veteran joined the company in 2007 and in 2009, took on the oversight of Federal Realty's specialty leasing program, which includes temporary leasing, sponsorships, corporate partnerships, and programming across the entire portfolio.

"These experts are among the most respected in the industry—day in and day out, they demonstrate leadership excellence and a strong track record of execution," said Don Wood, Federal Realty's Chief Executive Officer. "I have the highest confidence in their ability to drive our continued success and strengthen Federal's foundation as a preeminent retail REIT."

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, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its 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 0.by their respective communities. Federal Realty's 104 properties include approximately 3,200 tenants, in 26 million square feet, and approximately 3,300 residential units.

Federal Realty has increased its quarterly dividends to its shareholders for 55 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.

Investor Inquiries:	Media Inquiries:
Leah Andress Brady	Brenda Pomar
Vice President, Investor Relations	Director, Corporate Communications
301.998.8265	301.998.8316
lbrady@federalrealty.com	bpomar@federalrealty.com

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SOURCE Federal Realty Investment Trust

FAQ

What executive promotions were announced by Federal Realty Investment Trust on February 7, 2023?

On February 7, 2023, Federal Realty promoted several executives including Robyn Sarrat as Vice President, Legal Leasing, and Becca Walker as Vice President, Head of Legal – Real Estate.

How does the leadership change at Federal Realty affect its operations?

The leadership changes aim to enhance operational efficiency and strengthen legal and sustainability initiatives within the company.

What is the significance of the new Vice President, Sustainability role at Federal Realty?

The new Vice President, Sustainability role reflects Federal Realty's commitment to ESG initiatives, which may attract sustainability-focused investors.

Who is the new Chief Investment Officer at Federal Realty?

Jan Sweetnam has been promoted to Executive Vice President, Chief Investment Officer, focusing on growth initiatives and portfolio management.

What impact could the executive promotions at Federal Realty have on its stock performance?

The promotions are aimed at strengthening leadership and operational capabilities, which could positively influence investor confidence and stock performance.