Crombie Real Estate Investment Trust announced that following a successful 13.5-year tenure as President and Chief Executive Officer of Crombie, Don Clow will retire as CEO on February 28, 2023. Concurrent with Mr. Clow's decision, the Board of Trustees of Crombie has appointed Mark Holly as CEO. Mr. Holly will assume his new role on March 1, 2023.

Mark began his career with TACC Developments, where he oversaw commercial and industrial development programs. In 2006, he joined The TDL Group (Tim Hortons) and later RBI, where he led real estate strategy, successfully increasing store count by 50 percent. In 2016, Mark joined Restaurant Development Partners, the area representative and developer of Tim Hortons in Minnesota as President. In 2018, he was appointed Senior Vice President, Real Estate, at Empire and was later promoted to the Empire Executive Committee.

During his time at Empire, Mr. Holly developed a transformational real estate strategy, instituted a new capital management committee and governance model and designed Empire's 10-year execution strategy to achieve the company's Climate Action Plan targets. He successfully led the real estate team in the acquisition and integration of Farm Boy and Longo's and worked with Crombie to create a true partnership between the two companies. To support a seamless leadership transition, Mr. Clow will remain as a Strategic Advisor until March 1, 2025.