Brixmor Enhances Management Team With Appointment of Michael Pappagallo as
President & Chief Financial Officer
- Strategic Addition Helps Support Company's Long-Term Growth Initiatives -
NEW YORK, May 13, 2013
NEW YORK, May 13, 2013 /PRNewswire/ --Brixmor Property Group (the "Company"
or "Brixmor"), a leading owner and operator of community and neighborhood
shopping centers located throughout the U.S., today announced the appointment
of Michael V. Pappagallo as President & Chief Financial Officer, effective May
20, 2013. Mr. Pappagallo will play an integral role in the execution of
Brixmor's long-term business and capital markets strategy. In addition, he
will lead the Company's finance and accounting teams, as well as have
functional oversight of its property operations, information technology,
acquisitions / dispositions and investor relations efforts.
"With over 30 years of financial and real estate experience, Mike brings
considerable operational expertise, deep capital markets knowledge and
extensive retailer and industry relationships that will benefit our
organization," said Michael Carroll, Chief Executive Officer of Brixmor. "We
are excited to have someone of his caliber join our team to oversee the
positioning of our capital structure and continued financial performance as we
prepare for the next steps of our evolution and continue to build a
best-in-class portfolio and organization. I am confident his contributions
will have an immediate positive impact."
Mr. Pappagallo commented, "I have been impressed with Brixmor's progress over
the past few years as it has aggressively invested in the business,
repositioned the portfolio and strengthened its brand. I look forward to
sharing my background and experience with the senior management team as we
work together to maximize the Company's full potential and position it for
Mr. Pappagallo most recently served as Chief Operating Officer of Kimco Realty
Corporation (NYSE: KIM) where he was responsible for directing the strategic
and day-to-day activities of the company's shopping center business in
addition to overseeing the organization's strategic planning activities. Prior
to assuming the role of COO, he served as Kimco's Chief Financial Officer from
1997 through 2010. Prior to his time at Kimco, Mr. Pappagallo served as Chief
Financial Officer of G.E. Capital's Commercial Real Estate Financing business,
and held various other financial and business development positions, and as a
Senior Manager in the audit group of KPMG, LLP.
About Brixmor Property Group:
Brixmor is the second largest owner of community and neighborhood shopping
centers in the U.S. and a leader in redevelopment and value-creation over the
last decade. The Company actively manages a national portfolio of more than
600 properties, aggregating 94 million square feet, which are strategically
located across 39 states and primarily anchored by grocers or leading
discounters. Brixmor is the largest landlord (by gross leasable area) to The
TJX Companies, The Kroger Company and Dollar Tree, Inc. The Company is
headquartered in New York, New York with multi-disciplinary, full service
regional and local offices across the country. Further information is
available at www.brixmor.com.
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended, and the Private Securities Litigation Reform
Act, which reflect our current views with respect to, among other things, our
beliefs, plans, objectives, goals, targets, expectations, anticipations,
assumptions, estimates, intentions and future performance. In some cases, you
can identify these forward-looking statements by the use of words such as
"outlook," "believes," "expects," "potential," "continues," "may," "will,"
"should," "could," "would," "seeks," "approximately," "predicts," "intends,"
"projects," "plans," "targets," "estimates," "anticipates" or the negative
version of these words or other comparable words or expressions of the future
or otherwise regarding the outlook for our future business and financial
performance. All statements other than statements of historical fact included
in this press release are forward-looking statements and are based on various
underlying assumptions and expectations and are subject to known and unknown
risks, uncertainties and assumptions, and may include projections of our
future financial performance based on our growth strategies and anticipated
trends in our business. Such forward-looking statements are subject to various
risks and uncertainties and speak only as of the date of this press release.
Accordingly, there are or will be important factors that could cause actual
outcomes or results to differ materially from those indicated in these
statements. In addition, new risks and uncertainties emerge from time to time,
and it is not possible for us to predict all risks and uncertainties, nor can
we assess the impact of all factors on our business or the extent to which any
factor, or combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements.
Accordingly, you should not rely upon forward-looking statements as a
prediction of actual results and we do not assume any responsibility for the
accuracy or completeness of any of these forward-looking statements. Except
as may be required by law, we undertake no obligation to publicly update or
review any forward-looking statement, whether as a result of new information,
future developments or otherwise.
SOURCE Brixmor Property Group
Contact: Stacy Slater, Senior Vice President, Investment Management, (212)
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