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ARLINGTON, VA-The Mills Corp. will institute a number of changes in an effort to improve operations and fortify the company. The retail property developer will incorporate a new multi-faceted strategy involving its core operations, management staff and internal financial structure.

For starters, Mills' plan calls for the boosting of the company's concentration on its core operations by training an even more focused eye on its policy of pursuing projects that will result in substantial shareholder value. As a result, the company will back away from 10 predevelopment pursuits that do not fit the bill, including six projects in the US. "Our approach to every project will continue to stress discipline and a careful evaluation of risk-adjusted return, so that we can determine if the value to be created warrants the level of capital and management attention needed to pursue each opportunity," says Mills president Mark D. Ettenger.

Mills will also see a change in management, with the departure of a total of 17 officers as the result of the company's workforce reduction plan, as well as retirements and other departures. There will be further changes in management at Mills, in addition to the aforementioned departures. Edward S. Civera, Board chair of HealthExtras Inc., has been tapped to sit on Mills' Board of Directors as an independent member and as a member of the company's Audit Committee. Additionally, Mills' Scott Ball will take on the role of head of the asset management division, assisting in the company's goal of increasing operating efficiencies and cutting costs.