Daniel Fournier, the former CEO of Ivanhoé Cambridge, is to replace Michael Turner in the top role at fellow Canadian real estate investor Oxford Properties.
Turner joined Oxford Properties, the real estate arm of Canadian pension fund OMERS, in 2010 and will step down as president on 1 April 2023.
Fournier was CEO and chairman of Ivanhoé Cambridge, the real estate arm of Caisse de dépôt et placement du Québec, from 2010 before retiring from the company in 2019.
OMERS said Turner would remain at Oxford Properties to focus on several US-specific strategies and Fournier would replace Turner as executive chair.
“For over 13 years, five as president, Michael has dedicated himself to our outstanding global real estate success story,” said Blake Hutcheson, president and CEO of OMERS.
“He and his team of extraordinarily talented people, have overseen an important period of growth for Oxford, diversifying our business, building capabilities and expanding into new markets and sectors.”
Hutcheson added: “We are delighted to welcome Daniel Fournier to the Oxford team. Mr Fournier’s extensive experience, track record of success and in-depth knowledge of global real estate investing will be an invaluable asset to Oxford as we enter this next phase of growth across the globe.”
Fournier said: “It is truly an honour and a privilege to join such an outstanding organisation which I have always admired for its purpose-driven approach and world-class talent. I look forward to working with the team at Oxford as we continue to grow their iconic portfolio of assets and platforms around the world.”
