The CEO of North Miami Beach real estate investment trust Equity One is leaving the company when his contract expires at year’s end.
Jeffrey Olson chose not to renew his employment agreement with the retail owner, developer and operator, Globe St. reported. Olson has been with Equity One for eight years, leading the company through the economic downturn. He called the decision to leave a “difficult” one and said he plans to pursue “another business opportunity” after he departs.
Until then, Olson intends to help Equity One transition to a new top executive and continue cranking out leases and shopping center acquisitions for the company. A search committee has been formed by Equity One’s board of directors to find the next CEO.
“Equity One has a clear set of strategic priorities, an engaged board of directors and an experienced management team that will excel in the years ahead,” Olson said. [Globe St.] — Eric Kalis