Arricano Real Estate Plc announced that Emil Budilovsky resigns from his position as Chief Executive Officer with effect from 1 January 2014. The Board will be seeking a replacement CEO in the interim, Yarema Kovaliv current Head of Legal of the company will hold the position of acting CEO (non Board position), reporting to the Board. Mr. Kovaliv has been Head of the Legal Department at Arricano since October 2009, prior to joining the company, he was General Counsel at Panorama Group and head of the legal teams at O'KEY Ukraine LLC and MD Retail LLC.

Maksim Goncharuk, Chief Financial Officer ("CFO") (non Board position), has left the company and Tetyana Kolesnyk, ACCA, Head of Planning and Reporting, will take over the responsibility for the financial management, reporting to the Board, until a replacement CFO has been appointed. Ms Kolesnyk joined Arricano in November 2010 having previously held positions at Ernst & Young and in the financial reporting department of Vitmark, a leading manufacturer of juices in Ukraine.