Brixmor Property Group Inc. announced that James M. Taylor Jr. will retire as chief executive officer effective January 1, 2026, and that Brian T. Finnegan, who has served as president and chief operating officer since July 2024, will become the new CEO while retaining his president role. Finnegan’s appointment follows a planned succession strategy that the board has pursued for several months, and it reflects the company’s confidence in his deep institutional knowledge and operational expertise.
Finnegan joined Brixmor in 2003 and has held a succession of senior positions, including executive vice president of leasing (2014‑2020), chief revenue officer (2020‑2023), and senior executive vice president and COO (2023‑2024). He also served as interim CEO from October 2025 after Taylor’s temporary medical leave, giving him hands‑on experience leading the company during a critical transition period. The board’s decision to name him permanent CEO signals a desire for continuity in Brixmor’s value‑add strategy and capital‑recycling initiatives.
Brixmor’s most recent quarterly results show a slight decline in earnings per diluted share to $0.31 in Q3 2025, down from $0.32 in Q3 2024, but the company posted a 4.0% year‑over‑year increase in same‑property net operating income. Occupancy rates remained near 99%, and the firm raised its quarterly dividend by 7% to $0.50 per share. The modest earnings dip is largely attributable to a small increase in operating expenses driven by higher leasing commissions, while the NOI growth reflects stronger leasing activity and higher average rent per square foot in its grocery‑anchored community centers.
Finnegan’s mandate will focus on accelerating the value‑add portfolio, expanding tenant mix upgrades, and continuing the capital‑recycling program that has delivered consistent dividend growth. The company’s strategy of acquiring and renovating grocery‑anchored centers in high‑traffic suburban markets is expected to generate higher operating margins, and Finnegan’s experience in leasing and revenue management positions him to drive that growth. Brixmor’s board has emphasized that the transition will preserve the momentum of its current growth trajectory while positioning the firm for long‑term value creation.
James M. Taylor Jr. said he was proud of the company’s achievements and confident that Finnegan would lead Brixmor into its next chapter. Board chair Sheryl M. Crosland praised Taylor’s stewardship and expressed confidence in Finnegan’s leadership. Finnegan added that he is honored to continue the company’s legacy and is eager to build on the progress made by his predecessor, focusing on tenant relationships, operational efficiency, and shareholder returns.
The leadership change is expected to reinforce investor confidence in Brixmor’s strategic direction. By retaining a seasoned executive who has already overseen the company’s core operations, the board aims to minimize disruption and maintain the pace of portfolio expansion and dividend growth. The transition underscores Brixmor’s commitment to a stable, long‑term growth strategy that balances disciplined capital allocation with opportunistic acquisitions.
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