Olson will succeed Chaim Katzman as CEO and Doron Valero as president. Katzman will continue as chairman of the board, but Valero has announced that he will not renew his contract with the company to pursue other interests. He will remain with Equity One to facilitate the transition.

"I have known Jeff Olson for almost 10 years and have watched him excel in his professional career," says Katzman, Equity One chairman and CEO. "He is a gifted and natural leader. I look forward to what our company can achieve under his leadership."

Since joining Kimco in 2002, Olson has directed the asset management, leasing, property management, redevelopment and construction activities for a 500-property, 54-million-sf shopping center portfolio. Given Equity One's focus on the Southeast and Northeast, Olson also led Kimco's West Coast acquisition program. The company's assets in the region grew from $700 million to $7 billion during his tenure.