NEW YORK, May 13, 2013 /PRNewswire/ -- Brixmor Property Group (the "Company" or "Brixmor"), a leading owner and operator of community and neighborhood shopping centers located throughout the U.S., today announced the appointment of Michael V. Pappagallo as President & Chief Financial Officer, effective May 20, 2013. Mr. Pappagallo will play an integral role in the execution of Brixmor's long-term business and capital markets strategy. In addition, he will lead the Company's finance and accounting teams, as well as have functional oversight of its property operations, information technology, acquisitions / dispositions and investor relations efforts.
"With over 30 years of financial and real estate experience, Mike brings considerable operational expertise, deep capital markets knowledge and extensive retailer and industry relationships that will benefit our organization," said Michael Carroll, Chief Executive Officer of Brixmor. "We are excited to have someone of his caliber join our team to oversee the positioning of our capital structure and continued financial performance as we prepare for the next steps of our evolution and continue to build a best-in-class portfolio and organization. I am confident his contributions will have an immediate positive impact."
Mr. Pappagallo commented, "I have been impressed with Brixmor's progress over the past few years as it has aggressively invested in the business, repositioned the portfolio and strengthened its brand. I look forward to sharing my background and experience with the senior management team as we work together to maximize the Company's full potential and position it for long-term success."
Mr. Pappagallo most recently served as Chief Operating Officer of Kimco Realty Corporation (NYSE: KIM) where he was responsible for directing the strategic and day-to-day activities of the company's shopping center business in addition to overseeing the organization's strategic planning activities. Prior to assuming the role of COO, he served as Kimco's Chief Financial Officer from 1997 through 2010. Prior to his time at Kimco, Mr. Pappagallo served as Chief Financial Officer of G.E. Capital's Commercial Real Estate Financing business, and held various other financial and business development positions, and as a Senior Manager in the audit group of KPMG, LLP.
About Brixmor Property Group:
Brixmor is the second largest owner of community and neighborhood shopping centers in the U.S. and a leader in redevelopment and value-creation over the last decade. The Company actively manages a national portfolio of more than 600 properties, aggregating 94 million square feet, which are strategically located across 39 states and primarily anchored by grocers or leading discounters. Brixmor is the largest landlord (by gross leasable area) to The TJX Companies, The Kroger Company and Dollar Tree, Inc. The Company is headquartered in New York, New York with multi-disciplinary, full service regional and local offices across the country. Further information is available at www.brixmor.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act, which reflect our current views with respect to, among other things, our beliefs, plans, objectives, goals, targets, expectations, anticipations, assumptions, estimates, intentions and future performance. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "would," "seeks," "approximately," "predicts," "intends," "projects," "plans," "targets," "estimates," "anticipates" or the negative version of these words or other comparable words or expressions of the future or otherwise regarding the outlook for our future business and financial performance. All statements other than statements of historical fact included in this press release are forward-looking statements and are based on various underlying assumptions and expectations and are subject to known and unknown risks, uncertainties and assumptions, and may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. Such forward-looking statements are subject to various risks and uncertainties and speak only as of the date of this press release. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. In addition, new risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as may be required by law, we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
SOURCE Brixmor Property Group