Ulf Nillson, CEO of Blackstone's Swedish arm D. Carnegie & Co, has announced his intention to step down to focus on other initiatives.
Nillson has been with the Swedish listed residential landlord since late 2013. He will remain for a transition period 'to ensure an orderly hand-over'.
The company said it has appointed board member Svein Erik Lilleland as interim CEO and has also initiated a process to find a permanent replacement. Lilleland joined the company's board of directors in October 2016.
D. Carnegie & Co is Sweden's largest listed real estate company specialising in residential property. The company has been majority owned by US investor Blackstone since last year.
Nilsson, who has nearly 30 years experience of property and financing transaction and advice, was previously the CEO of Savills Sweden and before then the broker's head of Corporate Finance.
'Ulf has decided that he wishes to focus his time on other projects,' commented James Seppala, chairman of the board. 'We are confident that Svein Erik, supported by D. Carnegie & Co’s existing senior management team, will continue to execute the business plan and maximise value for the D. Carnegie & Co shareholders in the interim period.'
