After a highly successful career of more than 15 years at ING Real Estate, Paul Trip, CEO of the business line Development and Member of the Management Board, has decided to leave the company as of November 1st, 2005. He has decided to step down because he wishes to accept responsibility for the disappointing results of the project Zlote Tarasy in Poland.
The Management Board of ING Real Estate regrets, but highly respects Mr. Trip's decision. The Board expresses its great appreciation to Mr. Trip for his important contribution to the organization. His efforts were essential for the growth of the business line Development of ING Real Estate.
Mr. Trip's resignation does not alter the concept of ING Real Estate as 'one company, three business lines' nor the strategy of controlled expansion of Development as one of the three business lines.
George Jautze, CEO of ING Real Estate, will also assume the role of CEO Development until a successor to Mr. Trip has been appointed.
Source: ING Real Estate