Nepi Rockcastle CEO Rüdiger Dany will step down from his role in March next year, after five years with the property group.
Nepi Rockcastle is one of the biggest listed property companies in the Central and Eastern Europe (CEE) region and on the JSE, with a strong focus on retail assets.
During his tenure, Dany played a role in growing Nepi Rockcastle into the leading retail real estate player in the CEE — leveraging the region’s strong value retail sector and expanding the company’s portfolio through key acquisitions.
He established and developed its renewable energy business, completed major capital market transactions and strengthened its financial position, the group said in a Sens statement.
Nepi had already kicked off its succession process, bringing in a top international executive search firm to help identify the best candidate from both within or outside the company, it said.
“We will update the market and the shareholders once this process concludes with an appointment for the CEO role,” the group said.
In its results for the three-months to end-March, the group reported an uptick in operating income for the first quarter after bolstering its portfolio with two Polish retail properties last year.
During its first quarter, the group reported an increase in operating income following the addition of two Polish retail assets to its portfolio last year. The acquisition of Magnolia Park in Wroclaw and Silesia City Centre in Katowice contributed to a 12.6% rise in net operating income.
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