Serge Fautré appointed new CEO of AG Real Estate (BE)

AG Real Estate is proud to announce the appointment of Serge Fautré as Chief Executive Officer and President of the Management Committee of AG Real Estate. He will succeed Alain Devos, who announced his resignation in September 2011.

Serge Fautré, 51, has vast experience in real estate, having been Chief Executive Officer of Cofinimmo since March 2002. Cofinimmo is the first quoted Belgian real estate company, specializing in rental property and with a portfolio of more than €3 billion.

Serge Fautré also has extensive experience in the banking industry through Schroders, Citibank and JP Morgan, as well as experience in the industrial sector with Glaverbel and Belgacom.

Announcing his appointment Alain Devos commented: "The appointment of Serge Fautré as CEO of AG Real Estate is a logical and natural choice. Serge has gained vast experience in the real estate sector leading Cofinimmo, the largest REIT in Belgium.

"The diversity and scope of the real estate activities of AG Real Estate will provide Serge with an opportunity to apply his experience in the most varied domains of real estate. I welcome him to the company and wish him every success in his new responsibilities."

"Serge Fautré holds all the necessary cards to take over the torch of Alain Devos, and lead this important function within the Group," states Antonio Cano, President of the Executive Board of AG Real Estate and Chief Executive Officer of AG Insurance, full shareholder of AG Real Estate.

Source: AG Real Estate

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