Changes to Redefine top brass

Posted On Wednesday, 02 February 2011 02:00 Published by eProp Commercial Property News
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Redefine Properties Limited has announced the appointment of executive director, David Rice as chief operating officer (COO) of the company and the resignation of Mike Flax and Brian Azizollahoff as executive directors

Marc WainerRedefine CEO Marc Wainer says Rice’s appointment as COO will expand his existing role in the company to other operational areas.

Flax will remain on the board as a non-executive director of Redefine and will continue to serve on the company’s investment committee, while Azizollahoff has resigned to pursue his own business interests.

Wainer says the company has undergone significant restructuring and internalisation of management functions since the merger with ApexHi and Madison.

“In light of the company’s decision to scale back on its trading and development activities, we agreed with Flax that he would resign as an executive. We are delighted that we will retain his input on acquisitions and disposals on our investment committee, and look forward to his continued contribution to the company in his new role.

“Azizollahoff, who was CEO of Redefine prior to the merger, was instrumental in settling the merged operation and has established specialist departments to handle the enlarged company’s support functions such as legal, human resources and marketing, which should ensure a smooth transition when he leaves us at end February. On behalf of the board, we would like to thank him for his contribution to the company, and wish him well for his personal business venture,” says Wainer.

Wainer says the company has been operating with a top heavy structure since the merger. “Following the changes, we now have a conventional structure of a CEO, COO and financial director, and the depth of senior management to take the company forward,” he says.

Last modified on Friday, 18 April 2014 18:54

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