Kimco Realty Update 01/22/25

Kimco Realty® Announces Board Leadership Transition

Kimco Realty Corporation has announced the following changes to the Company’s Board of Directors:

After more than 60 years of leadership, Mr. Milton Cooper will retire as Executive Chairman of the Company and Kimco Realty OP, LLC (“Kimco OP”) at the 2025 Annual Meeting of Stockholders. Upon Mr. Cooper’s retirement as Executive Chairman of the Company and Kimco OP, Richard Saltzman will become the Independent Chairman of the Board of Directors, Mary Hogan Preusse will conclude her service as Lead Independent Director while remaining a member of the Board, and Milton Cooper will assume the title of Chairman Emeritus.

In addition, effective January 21, 2025, the Board has appointed Nancy Lashine and Ross Cooper to the Company’s Board of Directors, with Ms. Lashine to serve on the Audit and Executive Compensation Committees of the Board.

“Milton Cooper will always be synonymous with Kimco and its culture. As the Company’s founder, longtime CEO and current Executive Chairman, Milton has been an integral part of Kimco’s growth and success for more than six decades,” said Conor Flynn, Chief Executive Officer. “The Board and I are forever grateful for Milton’s leadership, mentorship and friendship. As we move forward, he will continue to inspire and challenge us to excel. We are delighted that Milton will continue in the new role as Chairman Emeritus and will serve as a valuable advisor to the Kimco board.”

Milton Cooper added: “I am so proud of all that the Company has accomplished since Marty Kimmel and I shook hands in 1960. The key to success is to enjoy what you do and helping Kimco become an industry leader has been truly rewarding, both personally and professionally. I am truly blessed. I am even more proud and excited for what the future holds for Kimco. The management team we have in place, led by Conor, and the refreshed Board, to be led by Richard, are truly best in class, and they are energized, committed, and determined to take Kimco to new heights. I can’t wait for this next chapter to unfold and to assist in any way I can.”

Milton Cooper
In 1960, Mr. Cooper and his partner Marty Kimmel founded the Company’s predecessor. In 1991, Mr. Cooper led the Company through its initial public offering, which was the first successful equity real estate investment trust (“REIT”) IPO of its time and often referred to as the beginning of the modern REIT era.

With over six decades of leadership experience, Milton Cooper was a director and President of the Company prior to 1991, then served as Chief Executive Officer and Chairman of the Board from 1991 to 2009. Mr. Cooper has received multiple accolades over his career, including a National Association of Real Estate Investment Trusts (“NAREIT”) Industry Leadership Award for his significant and lasting contributions to the REIT industry.

Richard Saltzman
Richard Saltzman has served as a director of the Company since 2003 and currently serves as Chair of the Audit Committee. In addition to Kimco, he also serves on the board of directors of Equiem Holdings Pty. Ltd. and as a Senior Advisor at Peaceable Street Capital. Mr. Saltzman previously served as Chief Executive Officer and President of Colony Capital. Prior to joining Colony Capital, Mr. Saltzman was a Vice Chairman and the Global Head of Real Estate at Merrill Lynch’s investment banking division.

“It is a privilege to assume the role of Chairman of the Board. The Board and I are thankful for Milton’s leadership over the years,” said Mr. Saltzman. “I look forward to continuing to work closely with my fellow directors and the management team on positioning the business for continued success and enhanced value creation.”

“On behalf of my fellow directors, I want to express my deep appreciation to Mary for her dedication as Lead Independent Director of Kimco over the past five years,” said Milton Cooper, Executive Chairman. “We are grateful for her continued service as a director of the Company.”

Nancy Lashine and Ross Cooper
Nancy Lashine is the managing partner and founder of Park Madison Partners. Ms. Lashine previously served as a Board member of Boston-based developer and real estate investment management firm The Davis Companies. She graduated cum laude with a BFA from Case Western Reserve University and an MBA from Columbia Business School.

Ross Cooper has served as the Company’s President and Chief Investment officer since 2017. He has been with the Company since 2006 where he has served in various other leadership roles including Senior Vice President and Vice President of Acquisitions, Dispositions and Asset Management for the Southern Region. He holds a B.S. from the University of Michigan and a Master’s in Real Estate from New York University.

“We are also excited to welcome Nancy Lashine and Ross Cooper to Kimco’s Board of Directors,” said Conor Flynn, Chief Executive Officer. “Their extensive experience and deep understanding of the real estate industry will bring valuable insights and perspectives, significantly contributing to the ongoing success of the Company.”

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