Troubled Brixmor Taps James Taylor as CEO

Brixmor Property Group in New York City has hired James M. Taylor to take on the role of CEO and president. Taylor, who currently is CFO and treasurer for Federal Realty Investment Trust, will replace interim CEO Daniel Hurwitz on May 20.

Brixmor owns and operates a portfolio of grocery-anchored and neighborhood shopping centers nationwide. Taylor’s appointment comes two months after an audit committee discovery that employees were “smoothing” income to make the REIT’s quarterly results more consistent. CEO Michael Carroll and two other executives resigned.

Blackstone Group LP, which is Brixmor’s largest shareholder, took the company public in October 2013.