Brixmor Property Group Inc., a U.S. shopping-center landlord, named James M. Taylor as president and chief executive officer.
Taylor, currently an executive at Federal Realty Investment Trust, will join New York-based Brixmor on May 20 and will become a director following the company’s annual stockholders’ meeting in June, according to a statement Tuesday. He will replace Daniel B. Hurwitz, who has served as interim CEO since February. Hurwitz will continue as a member of the board.
The move follows a shakeup two months ago in which CEO Michael Carroll and two other executives resigned following a discovery by Brixmor’s audit committee that employees were “smoothing” income to make quarterly results more consistent. Blackstone Group LP, Brixmor’s largest shareholder, took the company public in October 2013 after acquiring properties from Australia’s debt-laden Centro Properties Group for about $9 billion in 2011.
Taylor is executive vice president, chief financial officer at Federal Realty, a Rockville, Maryland-based shopping-center real estate investment trust. He previously was senior managing director and the head of real estate investment banking at Eastdil Secured LLC, a unit of Wells Fargo & Co.
“Jim is a proven leader who we feel is uniquely qualified to enhance Brixmor’s position within the industry, while maximizing value for shareholders," Chairman John Schreiber said in the statement.