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Brixmor plunges as executives resign after review findings

Staff found "smoothing" income to make quarterly results more consistent

Published Wed, Feb 10, 2016 · 09:50 PM
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New York

BRIXMOR Property Group Inc shares plunged after chief executive officer Michael Carroll and two other executives resigned following a discovery by the company's audit committee that employees were "smoothing" income to make quarterly results more consistent.

The New York-based shopping-centre landlord named Daniel Hurwitz, former CEO of DDR Corp, interim CEO.

He also will be appointed to the company's board of directors, Brixmor said in a statement on Monday.

The changes follow a review that began when the company received information in late December …

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