Regency chairman and CEO Martin E. Stein Jr. says Smith was promoted because of his leadership in guiding the company's Pacific and Mid-Atlantic team to almost $1 billion in development activity over the past five years that has generated "approximately $300 million in profits and net value for Regency."

Stein says the chief investment officer's position was created "to help sustain the substantial growth and benefit from the exciting future prospects of Regency's development and acquisition program." Stein adds, "Since Regency went public in 1993, Regency has grown from a regional company into the leading national owner, operator and developer of neighborhood and community shopping centers with an $8.3-billion shopping center portfolio."

Smith began his real estate development career at Trammell Crow Co. in 1984, moving up later to partnership status and becoming a member of the company's national retail executive committee. Prior to joining Regency, Smith was senior vice president of retail for Lowe Enterprises Inc.