Brixmor builds senior leadership team
May 20 is shaping up as a momentous day at Brixmor Property Group with newly appointed CFO Angela Aman slated to begin work the same day as recently appointed CEO Jim Taylor.
Aman’s appointment as CFO was announced in conjunction with the release of Brixmor’s first quarter financial results on April 26 and follows the April 12 announcement that James Taylor had joined the company as CEO.
Aman joins Brixmor from Starwood Retail Partners where she also served as CFO. Prior to Starwood she also served as CFO at Retail Properties of America. New CEO Taylor joined Brixmor from Federal Realty Trust where he served as CFO.
"The record setting leasing volume executed in the first quarter coupled with the successful appointments of respected industry veterans as CEO and CFO to lead this enterprise forward is a testament to the strength and resilience of the Brixmor platform, and an indication that the company's best days are ahead," said interim CEO Daniel Hurwitz.
The duo of Taylor and Aman join Brixmor as the owner and operator of 518 shopping centers, 371 of which are anchored by supermarkets, is enjoying pricing power regarding the rental rates it is able to change tenants. That’s because the supply of new shopping centers has declined by 82% the past 10 years and new development remains at a 38 year low, according to a recent Brixmor investor presentation.
The CEO and CFO roles at Brixmor had been occupied on an interim basis since February after an investigation by the Board’s Audit committee prompted top executives to resign when it was determined they engaged in a practice called “smoothing” to minimize variability in reported financial results.
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