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Federal Realty ( (FRT) ) has issued an announcement.
Federal Realty Investment Trust announced the departure of President and COO Jeffrey S. Berkes by the end of 2024, with no plans to fill the role. CEO Donald C. Wood will take on the additional role of President. Berkes will receive a severance package and a 2024 bonus, plus a consulting role in 2025. The company anticipates a financial charge of $0.04 per share in Q4 2024 due to this change.
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