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National Retail Properties CEO to retire, step down as chairman

National RetailProperties Inc. said Craig Macnab will retire as CEO of the companyafter serving in that role since February 2004 and will be replaced byPresident and COO Julian Whitehurst.

Macnab will also relinquish his board seat and hand over hischairman position to Robert Legler, the board's lead independent director.Macnab has been chairman since February 2008.

Whitehurst, who has been COO of the company since June 2004,added president to histitle in May 2006.

The changes will become effective April 28, 2017.