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Equity One Makes Changes, Cuts

NORTH MIAMI BEACH, FL-The retail developer is replacing its CFO as two execs leave.

By Carl Cronan | Updated on March 31, 2009

(Carl Cronan is editor of Real Estate Florida.)

NORTH MIAMI BEACH, FL-Locally based Equity One Inc. is making moves to cut costs and streamline its management structure, with the steps expected to result in annual savings of nearly $2 million. The retail developer owns or has interests in 146 shopping centers totaling 16 million square feet plus other properties throughout the eastern US.

Mark Langer will be promoted to chief financial officer effective April 24, replacing Greg Andrews, who has agreed to leave the company on that date along with Thomas McDonough, chief investment officer. McDonough’s duties will be taken over by Thomas Caputo, Equity One’s president, following a one-week transition period.

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