PECO prez Devin Murphy steps down; COO Bob Myers takes his place

Phillips Edison & Company has announced that its president Devin Murphy has stepped down after four years in the role. 

Current COO Bob Myers will take over the No. 2 office at one of the nation’s leading owner-operators of grocery-anchored neighborhood centers.

Murphy, who served as PECO’s CFO for six years before ascending to the presidency, will continue to serve the company as managing director of investment management through the end of next June, when he plans to retire.

Myers, who started at the Cincinnati-based company as a leasing manager in 2003, was named SVP of leasing in 2006 and COO in 2010. 

Before joining PECO, he spent six years with Equity Investment Group, where he served as director of operations and director of lease renegotiations.

“Bob and Joe have played important roles throughout the majority of PECO’s 30-year history and I am confident they will continue to scale the company and the portfolio from here,” CEO Jeff Edison said in a press release. “I look forward to continuing to partner with them in delivering long-term growth and value creation.”

PECO’s COO slot will be filled by Joe Schlosser, currently the company’s SVP of portfolio management. 

Outgoing president Murphy is in discussions with PECO nominating and governance committee about joining the company’s Board of Directors following his retirement.