MIAMI—Less than a month after announcing that CEO Jeffrey S. Olson is stepping down, Equity One has named a replacement. The shopping center owner, developer, and operator just announced David Lukes, 44, is joining the company as executive vice president no later than May 31, 2014.

Lukes brings plenty to Equity's table. Indeed, his experience includes all aspects of commercial real estate development and operations. He will step into the CEO seat when Olson departs later this year.

“We are delighted that David Lukes has agreed to join the Equity One team as we move through an orderly leadership transition and intensify our focus on extracting value from our upgraded portfolio,” says Chaim Katzman, chairman of Equity. “David brings a unique combination of skills including architectural vision and operational expertise that are key to realizing the full potential of Equity One's properties.

Most recently, Lukes served as president and CEO of Sears Holdings Corporation affiliate Seritage Realty Trust. His past experience includes serving from 2010 to 2012 as the president and CEO of Mall Properties, Inc., a privately owned real estate firm based in New York.

From 2002 to 2010, he worked in various senior management positions at Kimco Realty Corporation, the largest owner and operator of retail shopping centers in North America. In fact, he was Kimco's COO from November 2008 to April 2010.

“I have known David for more than ten years and believe he is one of the most talented real estate professionals in our industry,” says Tom Caputo, president of Equity. “I look forward to working closely with David and Mark as we continue to focus our efforts on maximizing the value of our upgraded portfolio.”

Equity also announced that CFO Mark Langer has extended his employment agreement through June 30, 2015. Katzman says, “Together with President Tom Caputo, Mark will help ensure we continue to execute on our strategic plan.”