Cedar Shopping Centers Inc. (CDR) said Kimco Realty Corp. (KIM) executive Joel I. Yarmak has joined the company as chief administrative officer while Brenda J. Walker was promoted to chief operating officer.

Filling the two new jobs comes as the real-estate investment trust has struggled with capital woes, suspending its dividend in April.

Yarmak spent nine years at Kimco and was most recently its vice president of financial operations. He also spent a quarter-century in public accounting, nearly all at Deloitte & Touche LLP. Waller has been with Cedar Shopping for more than 30 years.

The company owns 120 shopping-center properties, mainly in the Northeast and mid-Atlantic regions. Supermarkets and drug stores represent more than 75% of the anchors in its portfolio. Those retail segments haven't been as hard-hit as more discrtionary sectors.

In July, Cedar Shopping reported a 4.5% revenue increase while funds from operations - a closely watched profitability figure among REITs - dropped 5% excluding charges as occupancy levels remained steady.

In recent trading, shares were down 1.3% at $5.92. The stock is off 16% in 2009 and 54% from a year earlier.

-By Mike Barris, Dow Jones Newswires; 212-416-2330; mike.barris@dowjones.com;