Equity One announces streamlining moves

|About: Equity One Inc. (EQY)|By:, SA News Editor

Looking to increase the speed of decision-making and lower operating costs, Equity One (EQY) moves to have all leasing and property management functions to report to newly appointed COO Michael Makinen, who most recently held the same post at Olshan Properties.

The transition will result in the elimination of 14 existing positions, including 3 regional presidents; it also means the hiring of a new SVP of leasing and three new leasing positions focused on filling vacancies within the southeast and Florida portfolios. Annual savings are expected to be about $2M per year.