Regency Centers Corp. said Karin Klein and Thomas Furphy will stand for election to its board, while Mary Lou Fiala would step down as a director at its 2019 annual shareholder meeting.

The shopping center real estate investment trust noted that the planned changes are part of its board refreshment plan to increase diversity, among other aims. A long-tenured director and former president and COO of Regency, Fiala advised Regency's board that she would not seek re-election at the meeting, scheduled for May 7.

Klein is the founding partner of technology-focused venture capital firm Bloomberg Beta LP and is a director of office REIT Paramount Group Inc., among other affiliations. Furphy is the CEO and managing director of venture capital and venture development firm Consumer Equity Partners and chairman of e-commerce agency IdeoClick Inc.