NEW YORK CITY-A little over a week after it announced that CFO Lawrence Kreider will be leaving, Cedar Shopping Centers, Inc. has announced that CEO Leo Ullman will retire, effective June 15, 2011.

Bruce Schanzer, currently managing director – Real Estate Investment Banking at Goldman, Sachs & Co., will succeed Ullman at Cedar. He has been an advisor at the company for several years, according to a release announcing the appointment.

“I am pleased to join Cedar and I accept this position with the clear goal of moving the company forward by executing upon its growth strategy while improving its financial performance,” Schanzer said in the release. “I have great admiration for what Leo has achieved over the years and I look forward to building upon this foundation with our strong management team.”   

Part of that management team includes new hire CFO Phillip Mays, who replaces Kreider this month in the position. Kreider and Ullman will both serve as consultants to Cedar--Kreider through the end of the year and Ullman through the end of September.

A spokesman for Cedar tells GlobeSt.com that the executives involved aren’t commenting outside of prepared statements. Cedar’s portfolio includes properties throughout the Northeast, Mid-Atlantic and Midwest. As GlobeSt.com has reported, it has remained an active player, particularly as of late in New England.

According to the company’s website, its growth strategy includes three core areas--development and redevelopment, acquisitions and property management.