Brixmor PropertyGroup Inc. said April 12 that its board named Federal Realty Investment Trust CFO and Treasurer James Tayloras its new CEO and president, effective May 20.

Federal Realty announced Taylor's resignation, effective May19, in a separate April 12 news release, adding that it engaged Grant Morgan &Associates to conduct the search for Taylor's replacement.

Taylor, who has more than 20 years of experience in commercialreal estate, will join Brixmor's board also following the company's 2016 annualshareholder meeting, scheduled for June 16.

Daniel Hurwitz, who has served as Brixmor's president and CEO since an accountingdiscrepancy at the company forced its leadership out in February, will remain onthe company's board.

The executive search consulting firm Korn Ferry assisted Brixmorin its search for new permanent leadership.