Inland Real Estate Corp.'s chairman Daniel Goodwin and CEO Robert Parks have both stepped aside. Other executives that have been with the firm for years have stepped in to assume those posts.
Retail real estate investment trust Inland Real Estate Corp. said Monday it promoted Mark E. Zalatoris to the position of president and chief executive effective immediately.
Zalatoris most recently served as the company's executive vice president, chief operating officer and treasurer, Inland said.
Zalatoris succeeds Robert D. Parks, who will remain on Inland's board until the company's annual shareholders meeting. Parks has chosen not to stand for re-election to the board, the company said.
The company also said Monday it named Thomas P. D'Arcy as its non-executive chairman effective immediately.
D'Arcy has served as an independent director and member of the audit committee since 2005. He replaces Daniel L. Goodwin, the company's chairman since 2001, who will remain a director, Inland said.
Both Goodwin and Parks will remain with the company in various capacities. According to Inland:
Dan Goodwin will remain on the board of directors of IRC so that he can serve as a resource to the company, and he remains the largest individual shareholder of IRC.
It should be noted that Dan Goodwin and Robert Parks have not given up any of their positions at various other Inland entities. Dan Goodwin will continue serving as chairman and CEO of The Inland Real Estate Group, Inc., chairman and CEO of the Inland Real Estate Group of Companies, Inc., chairman and CEO of Inland Bancorp, Inc., and chairman and CEO of Inland Mortgage Corporation.
Robert Parks continues to be a principal shareholder in Inland Real Estate Corporation and will remain as chairman of Inland Western Retail Real Estate Trust, Inc., chairman of Inland American Real Estate Trust, Inc., and chairman and CEO of Inland Real Estate Investment Corporation.