VIRGINIA BEACH, Va., Feb. 27, 2020 (GLOBE NEWSWIRE) -- Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR, WHLRP, WHLRD) today announced that its Board of Directors has designated Stefani Carter as Chairman-Elect and appointed Daniel Khoshaba to the Executive Committee.

Ms. Carter has been elected by the Board to serve as Chairman as of the conclusion of the upcoming annual meeting of shareholders.

Mr. Khoshaba has been appointed to the Board and the Executive Committee, effective immediately. Mr. Khoshaba and Joe Stilwell will constitute the Executive Committee.

“The commercial real estate industry, including retail, remains important for the U.S. economy,” said Ms. Carter. “As Chairman-Elect, I look forward to working closely with Daniel, Joe, and the other directors of Wheeler and its management to turn the Company around and maximize shareholder value.”

“As one of the Company’s largest shareholders, I am delighted to be able to take an active role with the Company. I look forward to working closely with Joe and the other directors of Wheeler and its management to improve the Company’s operations,” said Mr. Khoshaba.

“I look forward to working with Stefani, Daniel and my fellow board members as we begin to rebuild shareholder value,” said Mr. Stilwell.

ABOUT WHEELER REAL ESTATE INVESTMENT TRUST, INC.

Headquartered in Virginia Beach, VA, Wheeler Real Estate Investment Trust, Inc. is a fully integrated, self-managed commercial real estate investment company focused on owning and operating income-producing retail properties with a primary focus on grocery-anchored centers. Please visit: www.whlr.us.