Phillips Edison & Company Announces Devin Murphy to Step Down as President; Bob Myers Promoted to President; Joe Schlosser Promoted to Chief Operating Officer
31 Octobre 2023 - 9:05PM
Phillips Edison & Company, Inc. (Nasdaq: PECO) (“PECO” or the
“Company”), one of the nation’s largest owners and operators of
grocery-anchored neighborhood shopping centers, today announced
that Devin Murphy will step down as President effective December
31, 2023. Effective January 1, 2024, Bob Myers, currently the
Company’s Chief Operating Officer and Executive Vice President,
will become President, and Joe Schlosser, currently the Company’s
Senior Vice President of Portfolio Management, will become Chief
Operating Officer and Executive Vice President. Today’s
announcement is the culmination of the Company’s long-standing
succession plan.
Jeff Edison, Chairman and Chief Executive
Officer stated, “I would like to extend our sincere gratitude to
Devin, who has worked side-by-side with me to transform PECO into
one of the largest strategic owners and operators of
grocery-anchored neighborhood shopping centers. In addition, Bob
and Joe are extremely talented, proven leaders and team players who
have been critical to the consistent strength of our operating
performance. They have played an important role throughout the
majority of PECO’s 30-year history, and I am confident they will
continue to scale the Company and the portfolio from here. I look
forward to continuing to partner with them in delivering long-term
growth and value creation.”
Mr. Murphy, who joined PECO in 2013 and played a
key role in the Company’s growth, will serve as Managing Director
of Investment Management through his planned retirement at the end
of June 2024. He will work closely with PECO’s senior leadership
team through the transition date to ensure a seamless handoff of
his current responsibilities. In addition, Mr. Murphy is in
discussions with the Nominating and Governance Committee about
joining PECO’s Board of Directors following his retirement.
Connect with PECO: For
additional information, please visit
https://www.phillipsedison.com/
Follow PECO on:Twitter at
https://twitter.com/PhillipsEdison Facebook at
https://www.facebook.com/phillipsedison.co Instagram at
https://www.instagram.com/phillips.edison/; and Find PECO on
LinkedIn at
https://www.linkedin.com/company/phillipsedison&company
About Phillips Edison &
CompanyPhillips Edison & Company, Inc. (“PECO”) is one
of the nation’s largest owners and operators of omni-channel
grocery-anchored shopping centers. Founded in 1991, PECO has
generated strong results through its vertically-integrated
operating platform and national footprint of well-occupied shopping
centers. PECO’s centers feature a mix of national and regional
retailers providing necessity-based goods and services in
fundamentally strong markets throughout the United States. PECO’s
top grocery anchors include Kroger, Publix, Albertsons and Ahold
Delhaize. As of September 30, 2023, PECO managed 295 shopping
centers, including 275 wholly-owned centers comprising 31.4 million
square feet across 31 states and 20 shopping centers owned in one
institutional joint venture. PECO is exclusively focused on
creating great omni-channel, grocery-anchored shopping experiences
and improving communities, one neighborhood shopping center at a
time.
PECO uses, and intends to continue to use, its
Investors website, which can be found at
https://investors.phillipsedison.com, as a means of disclosing
material nonpublic information and for complying with its
disclosure obligations under Regulation FD.
Forward-Looking StatementsThis
press release may contain certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Such forward-looking statements can generally be identified
by the Company’s use of forward-looking terminology such as “may,”
“will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,”
“continue,” “seek,” “objective,” “goal,” “strategy,” “plan,”
“focus,” “priority,” “should,” “could,” “potential,” “possible,”
“look forward,” “optimistic,” or other similar words. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
Such statements are subject to known and unknown risks and
uncertainties, which could cause actual results to differ
materially from those projected or anticipated, including the risk
factors and other risks and uncertainties described in the
Company’s 2022 Annual Report on Form 10-K, filed with the SEC on
February 21, 2023, as updated from time to time in the Company’s
periodic and/or current reports filed with the SEC, which are
accessible on the SEC’s website at www.sec.gov.
Except as required by law, the Company does not
undertake any obligation to update or revise any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
Investors:Kimberly Green, Head
of Investor Relations (513) 692-3399, kgreen@phillipsedison.com
Media:Cherilyn Megill, Chief Marketing
Officer(801) 415-4373, cmegill@phillipsedison.com
Phillips Edison (NASDAQ:PECO)
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