Palmer to Take Over as Regency Centers’ CEO in 2020

JACKSONVILLE, FL—Shopping center development firm Regency Centers Corp. has announced an executive succession plan that includes having current president and CFO Lisa Palmer to take the reins of the company as president and CEO effective Jan. 1, 2020.

The Jacksonville, FL-based REIT reports that Martin E. “Hap” Stein, Jr. will transition from chairman and CEO to executive chairman, effective Jan. 1, 2020. He has served as the company’s CEO for more than a quarter century.

Palmer will vacate her role as chief financial officer, while retaining her position as president, effective August 12, 2019, with Mike Mas assuming the position of EVP, chief financial officer, at that time. Additionally, Jim Thompson will become EVP, chief operating officer, and Mac Chandler will become EVP, chief investment officer, effective August 12, 2019.

Stein has served as CEO since the company’s initial public offering in 1993 and as chairman since 1999. He joined Regency’s predecessor in 1976, worked in leasing and asset management, and served as president from 1981 until the company went public.

“I am deeply gratified for the opportunity to have worked with the best professionals in the business for so many years,” Stein said. “Regency’s people are the cornerstone of the company and help us live out our values each and every day. Lisa is the embodiment of those values and is devoted to Regency’s special culture.”

“Lisa has a deep understanding of the key aspects of our business, our strategy, and our vision to be the preeminent national shopping center owner, operator, and developer,” Stein continued. “She is highly respected in the capital markets, by those with whom she has worked within the shopping center industry, and, importantly, by fellow members of Regency’s wonderful team. I am extremely confident in Regency’s future in the talented hands of Lisa Palmer.”

C. Ronald Blankenship, lead director of Regency’s Board of Directors, said, “Hap has steadfastly led Regency Centers since its IPO over 25 years ago. The company’s well-conceived growth through several real estate cycles and the resulting impressive shareholder return is directly attributable to Hap’s far-sighted direction and consistent execution. The appointment of Lisa as Regency’s president and chief executive officer is the result of the board’s rigorous and well-constructed succession plan that has been a focus over the last several years. Lisa is an exceptional executive, and the board is excited about her leading Regency into the future.”

Palmer has been President of Regency since January 1, 2016, and chief financial officer since January 2013. She has also served as a director since 2018. She joined the company in 1996 and has served in various capacities including SVP of capital markets.

“I am honored to have the opportunity to lead Regency Centers,” said Palmer. “I am truly humbled by the confidence Hap and the Board of Directors have placed in me.”