EastGroup CFO Keith McKey hands over to Brent Wood

  • After 25 years on the job
  • Laud, praise, words of regret and good wishes for McKey
  • McKey spoke at length and said 96 words

(exechange) — Jackson, Mississippi, March 03, 2017 — Keith McKey, finance chief of EastGroup, leaves. His departure is made public at an early stage. As announced by EastGroup Properties, Inc. in a news release and in a regulatory filing published on Friday, March 03, 2017, N. Keith McKey leaves the post as Chief Financial Officer at the equity real estate investment trust after 25 years on the job, effective July 31, 2017.

It is the end of an era.

McKey’s duties are taken over by Brent W. Wood, currently Senior Vice President and head of the Company’s regional office in Houston, Texas at EastGroup Properties, Inc.

“Appropriate time for me to transition to retirement”

The management change is explained as follows. McKey said: “Now that we’re through the CEO transition, I’ve decided that it is an appropriate time for me to transition to retirement.”

“Retire”

EastGroup said: Keith McKey, its Executive Vice President and Chief Financial Officer, “will retire on July 31, 2017.”

Precise information about the future plans of McKey was not immediately available.

Share price rise since March 2009

The change follows a rise in the share price of EastGroup Properties, Inc. since March 2009.

Chaired by David H. Hoster II

EastGroup Properties, Inc. is chaired by David H. Hoster II.

Hoster is Chairman of the Board of Directors, a position he has held since January 2016.

CEO: Marshall A. Loeb

Marshall A. Loeb serves as CEO of EastGroup Properties, Inc. Marshall A. Loeb has served as President and Chief Operating Officer since March 2015 and was appointed Chief Executive Officer and Director in January 2016.

On the job as CFO since 1992

Keith McKey has been an officer of EastGroup since 1983, Chief Financial Officer and Secretary since 1992, Executive Vice President since 1993 and Treasurer since 1997.

Prior to joining EastGroup, McKey was in public accounting with Ernst & Young LLP and KPMG Peat Marwick LLP.

He is a Certified Public Accountant (retired) and received his B.B.A. with a major in Accounting from The University of Mississippi.

Read the full story in the exechange report 10.2017 ($).