Icade named Frédéric Thomas as its new board chairman, replacing André Martinez, who is not seeking reappointment to the board.

The French real estate investment trust said it will elect Thomas as chairman at its board meeting, to be held after its April 24 general meeting, noting that it will also appoint a vice chairman. Thomas is CEO of both Crédit Agricole Assurances SA and Predica.

Icade's board also plans to appoint three directors, including Emmanuel Chabas, Waël Rizk and Gonzague de Pirey.

Chabas is head of real estate investments for Crédit Agricole Assurances. Rizk, who is deputy CFO of the Caisse des Dépôts Group, will replace Céline Senmartin, director of Banque des Territoires for the Normandie region. Icade noted that de Pirey, who is chairman of the Lapeyre Group, will replace Martinez as an independent director.

Following the general meeting, Icade's board will expand to 15 members from 14, including five independent directors.