Federal Realty Investment Trust Announces Changes to Its Board of Trustees
Federal Realty Investment Trust (NYSE: FRT) announced the appointment of Thomas A. McEachin to its Board of Trustees, effective October 1, 2022. He replaces Mark S. Ordan, who resigned due to increased commitments as CEO of Pediatrix Medical Group. McEachin brings extensive financial expertise from roles at prominent companies, including Covidien Surgical Solutions. Federal Realty continues to be a leader in retail property ownership, boasting a track record of 55 consecutive years of quarterly dividend increases.
- Appointment of seasoned financial executive Thomas A. McEachin to the Board of Trustees.
- McEachin has a strong background from leading companies, enhancing the board's expertise.
- Federal Realty has a 55-year track record of increasing quarterly dividends, the longest in the REIT industry.
- Mark S. Ordan's resignation may create a gap in leadership experience on the board.
NORTH BETHESDA, Md., Sept. 26, 2022 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT) today announced that Mr. Thomas A. McEachin will be joining its Board of Trustees on October 1, 2022, replacing Mark S. Ordan who has resigned from the Board effective as of September 30, 2022. Mr. Ordan is resigning due to increasing time commitments associated with his role as Chief Executive Officer of Pediatrix Medical Group Inc. along with his other public company board commitments, not as a result of any dispute with the company.
"I have the utmost respect for Mark, both personally and professionally, and understand and appreciate his efforts to simplify his commitments," said David W. Faeder, Federal Realty's non-executive Chairman. "His perspectives and wise counsel will be missed."
Mr. McEachin is a seasoned financial executive having held various positions at leading companies such as United Technologies, Digital Equipment, Xerox and, most recently, as Chief Financial Officer of Covidien Surgical Solutions, the largest division of Covidien PLC. A native New Yorker, Mr. McEachin holds an MBA from Stanford University's Graduate School of Business and a B.S. in Operations Research and Industrial Engineering from New York University's School of Engineering and Science.
"Tom's long-time financial experience with some of the country's most respected names is impressive and deep," commented Mr. Faeder. "We look forward to welcoming him onto the Federal Realty Board of Trustees."
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 by their respective communities. Federal Realty's 105 properties include approximately 3,100 tenants, in 25 million square feet, and approximately 3,400 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: Leah Andress Brady Vice President, Investor Relations 301.998.8265 | Media Inquiries: Brenda Pomar Director, Corporate Communications 301.998.8316 |
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SOURCE Federal Realty Investment Trust
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