EastGroup board OKs succession plan

Jackson-based EastGroup Properties board has implemented an executive succession plan in which Marshall A. Loeb will succeed David Hoster II as president and CEO by Jan. 1 next year.

Under the plan, Loeb will become president and chief operating officer first, effective March 1. Holster, who has been president since 1994 and CEO since 1997, will become chairman Jan. 1, 2016. Leland Speed, currently the board chairman and a director since 1978 and chairman since 1983, will remain as chairman emeritus. Speed was CEO from 1983 to 1997.

This changes are subject to stockholders re-electing Hoster and Speed as board directors and the board electing them to the new positions.