Dutch property fund VastNed Retail has appointed Taco de Groot as new Chief Executive Officer, effective September 1.
Dutch property fund VastNed Retail has appointed Taco de Groot as new Chief Executive Officer, effective September 1.
De Groot is already a director of VastNed Management, which conducts the management of VastNed Retail and VastNed Offices/Industrial. His appointment follows the announcement in March that VastNed Retail and VastNed Offices/Industrial would abandon their joint management structure from January 2012.
An update of the company's strategy will be presented on September 14, 2011, the Amsterdam-listed fund said in a statement on Friday.
Reinier van Gerrevink, the current CEO of VastNed Retail and VastNed Offices/Industrial, will stay with the company until the end of 2011 to support the new management board where necessary. He will retain the role of CEO of VastNed Offices/Industrial until the merger of the company with Nieuwe Steen Investments is completed.
De Groot previously worked as a letting agent and investment broker with DTZ Zadelhoff, was CEO at Cortona Holdings and founder and CIO of GPT Halverton. Most recently, De Groot was a partner with property consultants MSeven Real Estate.
VastNed Retail, with a portfolio of EUR 2 bn, invests in high-street shops, shopping centres and retail warehouses in the Netherlands, Spain, France, Belgium and Turkey.
