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CapCo chairman resigns before planned demerger; Altarea names unit chairman

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CapCo chairman resigns before planned demerger; Altarea names unit chairman

S&P Global Market Intelligence presents a weekly rundown of recent significant management and board changes and personnel moves in the European real estate industry. The moves are listed by sector and by announcement date in reverse chronological order. The Asia-Pacific and North America Hires and Fires columns are published Tuesday and Thursday.

South Africa

* Vukile Property Fund Ltd. Chairman Anton Botha is retiring and leaving the board of directors, following which board member Nigel Payne will assume the chairmanship.

Concurrently, Payne's role as chairman of the audit and risk committee will pass to Babalwa Ngonyama, who was added to the board in February. Peter Moyanga is stepping down from the audit and risk committee, but will continue to be a board member. The moves will be effective at the annual general meeting scheduled on or about Aug. 14.

Additionally, Renosi Mokate, who joined as an independent nonexecutive director in 2013, will be appointed lead independent nonexecutive director June 1.

* Leon Rauch will resign as director of Visual International Holdings Ltd., effective May 31.

UK

* A & J Mucklow Group PLC named James Retallack an independent nonexecutive director, effective June 1. The appointee will also sit on the company's audit, nomination and remuneration committees.

* Capital & Counties Properties PLC Chairman Ian Durant will relinquish his seat after eight years in the role, as the company plans to demerge into a prime central London retail-focused real estate investment trust and a development company centered around the Earls Court masterplan.

Subsequently, senior independent director Henry Staunton will chair the board from June 5, while Gerry Murphy will fill Staunton's vacated positions of audit committee chairman and senior independent director.

Staunton will additionally take up chairmanship of the nomination committee, while Charlotte Boyle will assume the roles of remuneration committee chairman and audit committee member.

If the plan to split the business is formalized, Capital & Counties CEO Ian Hawksworth will oversee the new retail-focused REIT.

France

* Altarea Cogedim brought in Adrien Blanc as chairman of its unit Altarea Cogedim Entreprise and a member of the executive committee, according to a release. Blanc is designated as a member of the group's general operational management team, alongside Altarea Cogedim Chairman Philippe Jossé and Altarea Commerce Chairman Ludovic Castillo.

Blanc hails from real estate investment company Paref SA, where he was executive vice president.

Sweden

* Ingalill Östman is set to exit Castellum AB as a member of its executive team and as a director of corporate communications.

Östman, whose tenure will lapse Oct. 31, will hold the post until her replacement is found. She joined the executive team in January 2017.

Belgium

* Cofinimmo SA said Xavier Denis, who stepped down as an executive director May 21, will also resign as COO, effective May 31.

In the interim, CEO Jean-Pierre Hanin will oversee the company's operational matters.