The Board of Directors of First Capital Realty Inc. announced the appointment of Adam Paul as President and Chief Executive Officer of the company and as a member of the Board of Directors of the company, effective in the first quarter of 2015. The appointment of a successor to First Capital Realty's long-standing CEO, Dori Segal, is part of the board's overall succession planning with respect to leadership roles at the company. He most recently served as Executive Vice President, Investments and Leasing of Canadian Real Estate Investment Trust.

In this role, he had direct responsibility for CREIT's real estate investment activities across Canada, which included acquisitions, dispositions and development activities, as well as CREIT's leasing program. Mr. Paul also played a key role in CREIT's investor relations activities and in various other aspects of the business. Mr. Segal and Mr. Paul will work closely with the company's executive team to ensure a smooth and seamless transition.

Mr. Segal will assume a new role, becoming the Executive Vice Chairman of the board of directors of the company and Chairman of the Executive Committee of the Board. After the initial CEO transition period, Mr. Segal intends to also devote more time to his role as Vice Chairman of First Capital Realty's principal shareholder, Gazit-Globe Ltd., and its global business.