Peter L. Lynch, Former Chairman, President and CEO of Winn-Dixie Stores, Inc., Joins RPAI's Board of Directors Leader with more than 35 years of experience in grocery retailing
OAK BROOK, Ill., May 28, 2014 /PRNewswire/ -- Retail Properties of America, Inc. (NYSE: RPAI or the "Company") announced today that Peter L. Lynch, former Chairman, President and Chief Executive Officer of Winn-Dixie Stores, Inc., has been elected to RPAI's Board of Directors.
Mr. Lynch was Chief Executive Officer, from 2004 through 2006, and Chairman of the Board of Directors, President and Chief Executive Officer, from 2006 through March 2012, of Winn-Dixie Stores, Inc., a NASDAQ-listed company, operating approximately 485 combination food and drug stores throughout the South. From 1998 through 2003, he held numerous executive positions including President and Chief Operating Officer and Executive Vice President-Operations, with Albertson's, Inc., a national retail food and drug chain comprised of 2,500 stores operating under the Albertson's, Jewel/Osco, ACME, Sav-On and Osco names. While at Albertson's, Inc., Mr. Lynch spearheaded the successful merger of American Stores Company, which operated food and drug stores in the Midwest, into Albertson's, Inc. Mr. Lynch also held executive positions with Jewel/Osco, including President of the ACME division and Senior Vice President of Store Operations.
"RPAI's Board continues to transform in response to our strategic portfolio and balance sheet repositioning efforts," stated Steven Grimes, president and chief executive officer. "RPAI has a strong grocery-anchored portfolio, which represents approximately 37% of our total multi-tenant retail portfolio, and Mr. Lynch's extensive background in the grocery industry, as well as his years of experience in strategic business planning and financial management, will make him a valuable asset to our Board."
Mr. Lynch was elected to RPAI's Board of Directors on May 22, 2014 at the annual meeting of stockholders held in Seattle, WA.
Retail Properties of America, Inc. is a REIT and is one of the largest owners and operators of high quality, strategically located shopping centers in the United States. As of March 31, 2014, the Company owned 227 retail operating properties representing 31.2 million square feet, including its pro rata share of unconsolidated joint ventures. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI. Additional information about the Company is available at www.rpai.com.
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SOURCE Retail Properties of America, Inc.