On September 4, 2013, Michael C. Phillips and Ethan J. Hershman, both directors of Phillips Edison - ARC Shopping Center REIT Inc., notified the Company that each was resigning as a member of the Company's Board of Directors. Mr. Phillips also notified the Company of his resignation as Co-Chairman of the Board. Mr. Phillips had served as a director and as Co-Chairman of the Board since December 2009.

Mr. Hershman joined the Board of Directors in July 2010 and served as a member of the Audit Committee. On September 6, 2013, the Board elected to decrease the size of the Board from seven members to five members. On September 6, 2013, the Board also appointed Jeffrey S. Edison to serve as sole Chairman of the Board and appointed Paul J. Massey, Jr. to serve as a member of the Audit Committee.