Â鶹ӳ»­

French real estate firm Klepierre has appointed Laurent Morel as CEO to replace Michel Clair who is stepping down to lead the supervisory board. Morel joined the Klepierre group four years ago, and was appointed to the executive board on 1 June 2005. He was appointed manager of retail firm Segece on 1 January 2006.

Clair commented: 'In choosing Laurent Morel as my successor, the supervisory board has both recognised his superior management abilities and confirmed a succession planning that has been in process for several years. This appointment will ensure the continuity in terms of management and strategy that are particularly necessary for long-term businesses such as ours.'

On 1 January 2009, Clair becomes chairman of the supervisory board. He replaces Dominique Hoenn who is stepping down from the chairmanship of the supervisory board in accordance with statutory age limit requirements. Clair has served as CEO since 1998.

'I am very honoured by the confidence that the board has shown in asking me to serve as its chair,' Clair said. 'In the course of the last five years, Dominique Hoenn has played a critical role in supporting Klepierre's rapid growth. Along with the board, he has supported the actions of the Executive Board I have chaired for the last 12 years, while also sharing his exceptional level of experience in the capital markets. I am delighted that he has agreed to remain on the Board at a time when his contribution will be no less crucial.'

___________________________

The November edition of PropertyEU Magazine to be published on 14 November features a profile of Michel Clair. Click on the link below to subscribe to PropertyEU.