Industry Leaders Share Insights on Leadership Lessons Learned Over the Past Three Years

Devin Murphy of Phillips, Edison & Co. emphasizes the crucial role of flexibility in thought processes for effective leadership at the recent ICSC Las Vegas conference.

LAS VEGAS—The ICSC Las Vegas conference last week drew in a diverse array of industry leaders eager to share their insights on the lessons learned from their experiences over the past three years. During one of the morning panels, individuals offered unique perspectives on the ever-changing landscape of leadership and Devin Murphy, the president of Phillips, Edison & Co., took the stage and emphasized the importance of flexibility in thought processes.

According to Murphy, as the environment continually evolves, leaders must adapt accordingly. “The ability to embrace change and evolve in sync with the ever-shifting landscape is crucial,” said Murphy. “It requires open-mindedness and a willingness to challenge conventional thinking,” he said.

Murphy reminded the audience that the success of a leader lies in their ability to evolve appropriately with the environment they operate in.

Hessam Nadji, president and CEO of Marcus & Millichap, shifted the focus to the impact of technology in the industry. He acknowledged that the technological advancements of the past decade have drastically changed the way information is accessed and disseminated. With information readily available to everyone at a rapid pace, the role of a broker has evolved, he said.

Nadji emphasized that while technology is undoubtedly essential, it is the value and interpretation of data that truly matters. Building and nurturing relationships, establishing trust, and adding value through expert interpretation are aspects that cannot be replaced by artificial intelligence. Nadji encouraged his peers to strive to become the next level of advisors by focusing on the meaningful value they bring to the table.

Alex Nyhan, an ICSC Trustee and CEO of First Washington Realty, shared his personal reflections on the challenges faced during the COVID-19 pandemic. He noted that the crisis compelled leaders to communicate and collaborate more effectively than ever before.

Nyhan urged the audience to embrace the uncomfortable duality of personal humility and unwavering determination. He emphasized the importance of recognizing that others may have the answers, while still advocating for the necessary performance to get the job done.

Nyhan also highlighted that every individual possesses the ability to be a leader in their own unique way and recognized the current moment as an opportunity for the real estate community to exercise leadership and make a positive impact.

Moderator Glenn Rufrano, the ICSC Chair and former CEO of VEREIT, addressed the role of CEOs and their teams and emphasized that despite the changes and challenges faced, CEOs and their staff are here to stay. However, he acknowledged the need for a solid support system surrounding CEOs to protect and guide them.

Rufrano also highlighted the importance of building a strong team that complements and strengthens the leadership, providing the necessary expertise and support to navigate complex situations successfully.

Check back with GlobeSt.com for more exclusive commentary from retail experts who attended last week’s ICSC Las Vegas event and check out the articles below for ones you might have missed on the subject.

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