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InterContinental names CEO of new business region; Fair Value CFO to step down

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.


* Under the new organizational structure put in place Jan. 1, InterContinental Hotels Group Plc combined the Europe and Asia, Middle East and Africa regions into a new region, dubbed Europe, Middle East, Asia and Africa, and named Kenneth Macpherson as its CEO.

* Grainger Plc named Mike Keaveney director of land and development Feb. 20. Keaveney, who is slated to join the company in April, will report to CEO Helen Gordon and will be responsible for the delivery and growth of Grainger's development pipeline. Director of Land Paul McGowan and Director of Development Mark Woodrow will work under the new appointee.

* Wyndham Worldwide Corp.'s hospitality unit, Wyndham Hotel Group LLC, designated Dimitris Manikis as its president and managing director for Europe, Middle East, Eurasia and Africa, or EMEA. To be based at the London offices, Manikis will oversee the development of the hotel company's brands in the EMEA region.

Manikis hails from Wyndham Worldwide's holiday timeshare company, RCI, where he most recently served as vice president of business development for the EMEA region.

* Margaret Ford will retire as SEGRO Plc's independent nonexecutive director at the company's April 19 annual general meeting. She took a seat on the board in January 2013 and also served as chairman of the industrial real estate investment trust's remuneration committee.

* Primary Health Properties Plc will bring in Ian Krieger and Stephen Kell as independent nonexecutive directors after obtaining shareholders' approval at its April 18 annual general meeting. Krieger will also take over the chairmanship of the company's audit committee from Steven Owen, who will succeed Alun Jones.


* Fair Value REIT-AG CFO Patrick Kaiser will relinquish his duties to take on new tasks, effective April 30. Kaiser, who was appointed DEMIRE Deutsche Mittelstand Real Estate AG's commercial manager in 2015, became CFO on Nov. 1, 2016, after the former acquired the diversified real estate investment trust. He went on to assume the role of Fair Value CEO from April 1, 2017, to Dec. 4, 2017.

* Consus Real Estate AG aims to name a replacement for CFO and management board member Jürgen Büser, who died Feb. 18.

* Alpha Industrial GmbH & Co. KG Managing Director Jörg Schröder will serve as the chief investment officer of Frasers Property Ltd. unit Frasers Property Europe. The move will take effect after Frasers acquires the project and asset management business of the German developer, as well as 22 of its logistics and industrial assets in Germany and Austria, for about €285.2 million.


* TK Development A/S will bid farewell to CEO Frede Clausen on March 31. The company settled on the date after previously announcing that Clausen's departure would be effective when his replacement had been found. The company's search for Clausen's replacement is ongoing, according to a release.


* Foncière des Régions' board installed Dominique Ozanne as deputy CEO for a term of four years, expiring at the end of 2021. Aside from his role as CEO for hotels, Ozanne will become a part of the group's general management team, alongside Deputy CEO Olivier Estève and CEO Christophe Kullmann.

The diversified real estate manager also appointed Laurie Goudallier chief digital officer and management committee member. She will manage the group's digital transformation in Europe and report to Kullmann.