Jean-Marc Jestin has been appointed to succeed Laurent Morel as CEO of listed European shopping centre landlord Klépierre.
The transition is part of the supervisory board’s succession plan that included Jean-Marc Jestin's appointment as chief operating officer and member of the executive board of Klépierre in 2012.
The appointment was announced on 7 November.
'This is the right time for Jean-Marc Jestin to become Klépierre's next chairman of the executive board. We have selected a highly qualified leader at a time when Klépierre is in a very strong financial and operational position,' said David Simon, chairman of the Klépierre supervisory board.
'Since joining Klépierre in 2012, Jean-Marc has been an outstanding chief operating officer,' Simon continued. 'He has an in-depth knowledge of the organisation and his tenure has yielded excellent operating improvements and financial results across the company, including being instrumental in leading the highly successful acquisition and integration of Corio. His leadership, combined with his vision and energy, will help set the tone for the future of Klépierre. The entire supervisory board is pleased that its succession planning has produced an executive of Jean-Marc's calibre who is ready to be the company's chairman of the executive board and lead the implementation of our going-forward strategies.'
The supervisory board wishes to thank Laurent Morel for his role in the development and growth of Klépierre, making it today one of the leaders of the industry in Continental Europe. “He has been a trusted and valued leader of Klépierre, and we wish him well in his future endeavours,' Simon added.
'After these very active and transformational years for Klépierre, I am extremely proud of the company’s achievements and I am sure it will be in good hands to continue on its successful track,' said Laurent Morel.
The Group will continue to be under the management of an executive board, which will now be composed of Jean-Marc Jestin and Jean-Michel Gault, Deputy CEO.
Klépierre combines development, rental, property and asset management skills. The company's portfolio is valued at €22.6 bn at end-June and comprises large shopping centres in 16 countries in Continental Europe which altogether welcome 1.2 billion visitors per year.
