New Redevco Board emphasizes strategic focus on core markets (NL)

Redevco is pleased to announce the appointment of three new board members. Javier Hortelano and Eric Van Dyck both become Redevco's Chief Operating Officers (COO) and Judith Dröge joins the board as Chief Human Resources Officer (CHRO). The appointments will take effect as of January 1, 2012.

Redevco will be further focusing on its core markets in Europe and these appointments will align the Management Board with the new strategic objectives. All three appointments are internal candidates and demonstrate clear succession planning and continuity in senior management.

In response to the new economic environment and the changing retail landscape Redevco is upgrading the quality of its existing portfolio and making selective disposals. Redevco will continue to manage its existing portfolio to enhance value and develop high-quality retail assets across Europe.

The Board has also reconsidered the risk/return profile of some of its activities and has therefore decided to cease its operations in emerging markets and temporarily withdraw its operations in Asia to focus on its core European markets.

Javier Hortelano joined Redevco in 2004 as Managing Director of Redevco Spain/Portugal and in his new role Hortelano will be responsible for operations in Spain/Portugal, France and Central and Eastern Europe.

Eric Van Dyck, Managing Director of Redevco Belgium since 2010, will be responsible for Belgium and the Netherlands.

Andrew Vaughan (CEO Redevco) will be responsible for UK, Germany and Turkey. Judith Dröge joined Redevco as Director of Human Resources in 2010 and will be responsible for both HR and Corporate Responsibility.

The new Board of Redevco now consists of the following people: Dominic Brenninkmeyer (non-executive Chairman), Andrew Vaughan (CEO), Marcel Eggenkamp (CFO), Eric Van Dyck (COO), Javier Hortelano (COO) and Judith Dröge (CHRO).

Source: Redevco

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