Kimco Realty (KIM) said Tuesday that Milton Cooper will retire as executive chairman at the company's annual general meeting and will be named as chairman emeritus.
Following Cooper's retirement, director Richard Saltzman will assume the role of independent chairman, the real estate investment trust said.
Cooper founded the company's predecessor in 1960 together with partner Marty Kimmel and led an initial public offering in 1991, Kimco Realty said.
Shares were 0.8% higher in early trading.
Price: 22.42, Change: +0.13, Percent Change: +0.56
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