Unibail-Rodamco-Westfield (ASX:URW) overhauls organisational structure

Summary

  • Since French telecom billionaire Xavier Neil joined the Supervisory Board of real estate giant Unibail-Rodamco-Westfield, the group has made significant progress in delivering shareholder value. 
  • The latest move by the property giant is indicative of the systematic overhaul underway with the group. 

Unibail-Rodamco-Westfield (ASX:URW) has announced further changes to its Management Board. Chief Investment Officer (CIO) Olivier Bossard will oversee deleveraging efforts via asset sales and value creation strategy. 

Source © Kalkine Group 2020

Chief Resource Officer Astrid Panosyan will head the organisation’s transformation efforts to increase effectiveness and efficiency. He will also continue to focus on resources and lead CSR strategies. 

Related: Unibail-Rodamco-Westfield (ASX:URW) Onboards activist investors, Calm waters ahead?

Management Board would now have a decentralised URW. The operational regions of the real estate giant will have more focus on local market conditions and customers. Each region would have a Chief Operating Officer, who would report of Chief Executive Jean-Marie Tritant. 

Operational regions of the group will also have Centres of Excellence, which would serve the whole group. Corporate entity of the group will mainly stress on strategic allocation of resources and performance evaluation. 

Source © Kalkine Group 2021

Chief Financial Officer Fabrice Mouchel will be tasked with adjusting finance function in the new organisation to reinforce Group control and monitor URW’s performance. 

The group appointed Michel Dessolain as Chief Customer Officer (CCO) in addition to the above changes. He is tasked with innovation, data, strategic marketing, digital marketing, and new revenues. 

While the group is looking for new CCO, Mr Dessolain will seek to make the group more digital, data-driven, customer-focused business to drive future growth. 

 


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