(Crystal Proenza is associate editor of Real Estate Florida.)

[IMGCAP(1)]JACKSONVILLE, FL-Locally based Regency Centers Corp. has undergone a leadership change, starting at the top. Mary Lou Fiala has stepped down as president of the retail REIT, but will remain on board as COO and vice chairman until her retirement at the end of the year. Chief investment officer Brian Smith has been appointed president of Regency, and chief financial officer Bruce Johnson has been named executive vice president.

"Although Mary Lou is planning to retire at the end of 2009, she will continue to stay longer if conditions dictate," Regency CEO Martin Stein Jr. stated in a release. "Initially there will not be a significant change in responsibility between Mary Lou and Brian. They, along with Bruce and me, will continue to work seamlessly as a team in our respective roles."

[IMGCAP(2)]Fiala also serves as chairman of the International Council of Shopping Centers, with her one-year term set to expire in May. Peter Sharpe, president and CEO of Toronto-based Cadillac Fairview Corp., has been nominated to succeed Fiala.