Regency Centers Announces Departure of Chief Investment Officer Mac Chandler

Rhea-AI Summary

Regency Centers Corporation announced the resignation of Executive VP and Chief Investment Officer Mac Chandler, who will take a CEO position at another REIT. Chandler's responsibilities will be transitioned to other members of Regency's executive team, ensuring continued oversight of development and transaction activities. Lisa Palmer, President and CEO, expressed gratitude for Chandler's contributions and confidence in the management team to maintain the company’s capital allocation strategy, focusing on value creation through its development pipeline.

Positive

• Seamless transition of Chandler's responsibilities to the existing executive team.
• Confidence expressed in continued execution of the capital allocation strategy.
• Strength of Regency's management teams to support ongoing operations.

Negative

• Loss of a key executive, which may lead to short-term uncertainty.
• Potential impact on investor confidence due to leadership change.

JACKSONVILLE, Fla., March 02, 2021 (GLOBE NEWSWIRE) -- Regency Centers Corporation (“Regency” or the “Company”) today announced that Executive Vice President and Chief Investment Officer Mac Chandler is resigning from his role to accept a CEO position at another REIT.

Mr. Chandler’s responsibilities for overseeing development, redevelopment and transaction activities will be transitioned to and assumed by the other members of Regency’s executive management team, as well as the Company’s senior regional management and investment teams.

“On behalf of the entire Regency team, I’d like to thank Mac for his significant contributions over the years and wish him success in his new role,” said Lisa Palmer, President and Chief Executive Officer. “Regency’s deep bench and the strength and talent of our executive and regional management and investment teams will allow for seamless and continued execution of our capital allocation strategy, focused on our strong value creation development pipeline.”

About Regency Centers Corporation (NASDAQ: REG)

Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and infill suburban trade areas. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit RegencyCenters.com.

Christy McElroy
Senior Vice President, Capital Markets
904 598 7616
ChristyMcElroy@RegencyCenters.com

Jan Hanak
Vice President, Marketing & Communications
904 598 7443
JanHanak@RegencyCenters.com

FAQ

What prompted the departure of Mac Chandler from Regency Centers?

Mac Chandler resigned to accept a CEO position at another REIT.

Who will take over Mac Chandler's responsibilities at Regency Centers?

Other members of Regency's executive management team will assume Chandler's responsibilities.

How did Regency Centers' CEO Lisa Palmer react to Mac Chandler's resignation?

Lisa Palmer thanked Chandler for his contributions and expressed confidence in the management team.

What does Regency Centers focus on as a real estate investment trust?

Regency Centers specializes in owning, operating, and developing shopping centers in affluent suburban areas.

Is Regency Centers a member of any stock indices?

Yes, Regency Centers is a member of the S&P 500 Index.