John de Die joined Rodamco Europe in April 2004. The decision to step down is based on personal motives, as he wishes to experience a better work/life balance. The Management Board of Rodamco Europe respects the personal decision of Mr. de Die, but regrets to see him
leave. Maarten Hulshoff, CEO; "Even though John has not been with us that long, we are grateful for his accomplishments, including the good transition to IFRS based reporting. We are pleased he announced his decision at an early stage enabling us to find a successor whilst benefiting from John's support as he will be available for ongoing activities to ensure a smooth transition. In this way we can continue our solid and sound financial management".
As from the summer period, Mr. Erik van de Merwe will support Mr. de Die and the Management Board in its activities, as he has done before for Rodamco Europe.
The search for a successor will start immediately.