Inside Long Island Business

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Exec departs Kimco Realty

A Kimco property in Jacksonville, Fla.

A Kimco property in Jacksonville, Fla. (Credit: Handout)

Barbara M. Pooley has departed as the chief administrative officer at New Hyde Park-based Kimco Realty Corp. and will receive a $1.75 million payment from the company, Kimco said Thursday in a filing with the Securities and Exchange Commission.

The company, a real estate investment trust with a market capitalization of $6.7 billion and interests in 940 shopping centers in 44 states, said she departed as of Jan. 13.

A Kimco spokesman did not immediately respond to a request for comment from the company and from Pooley.

Kimco said it made an agreement with Pooley on Wednesday outlining the terms of her departure, which include a $115,000 lump sum payment in addition to the $1.75 million; it also allows for 18 months of health insurance benefits, vesting of certain stock options and awards, reimbursement for three months of housing and moving costs, and a payment for unused time off, the SEC filing said.

In a June 2010 announcement about her promotion to chief administrative officer, Kimco described her duties, saying she would “be responsible for the business support functions of Kimco's operations including property planning, analysis and reporting, lease and property administration as well as information technology.”

She also had responsibility for investor relations, corporate communications and corporate governance. Pooley joined Kimco in 2007, and was a former senior vice-president, investor relations at Colonial Properties Trust, Kimco said in the 2010 statement.

Above, a Kimco property in Jacksonville, Fla.

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Tags: kimco , real estate investment trust , reit

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