Investec Property Fund CEO Darryl Mayers will step down as joint CEO of the fund from the top of November 2022. Mayers may even step down from the board of administrators.
Joint CEO Andrew Wooler – who has been within the place since 2018 – will proceed as sole CEO, beginning in December.
Investec Property Fund owns a number of retail, workplace, industrial and mixed-use developments in Gauteng and KwaZulu-Natal, together with Copperleaf Golf Property in Centurion in addition to the Toyota Distribution Centre in Kempton Park.
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“This management transition comes at a time when the fund’s working enterprise, portfolio of native and worldwide belongings and its stability sheet are in a robust place after the challenges confronted by the property sector over the past two years,” the fund stated in an announcement.
“The supervisor and the board thank Darryl for his dedication and contribution to delivering on the strategic goals of the fund, in addition to the effort and time spent imparting his data and abilities to all his colleagues.”
Mayers will nevertheless, keep on in an advisory capability, the place he’ll give attention to developments, retailer engagement and acquisition exercise, the fund stated.
“The board is happy that Darryl’s wealth of actual property experience will proceed to be obtainable to the fund in his new advisory position.”