Taco de Groot Steps Down as CEO of Vastned Retail N.V., Effective 1 December 2020
September 02, 2020 at 02:30 am EDT
Share
The Supervisory Board of Vastned Retail N.V., the reference shareholder of Vastned Retail Belgium NV, announced in a release that it has reached the conclusion, jointly with CEO Taco de Groot, that Mr. de Groot will step down as CEO as of 1 December 2020.
Vastned Retail N.V. is a European listed property company focusing on the best retail property on the popular high streets of selected European cities with a historic city centre, also referred to as « core city assets ». The tenants of VastNed Retail N.V. include international and national department stores that are leading in their sector; major luxury, fashion and sports brands; supermarkets; and a wide range of other retailers.
By investing in historic city centres Vastned Retail N.V. contributes to the preservation of the cultural heritage in these city centres. Vastned Retail N.V. also provides a positive contribution to the liveability and safety in city centres by creating and renovating residential space above retail units. In this way, the company endeavours to create long-term value for its shareholders, tenants, employees and society as a whole.
At year-end 2023, the group's real estate portfolio amounted to EUR 1,373 million. Over 80% of the portfolio is comprised of property located in the historic centres of selected European cities. The remainder of the portfolio is mostly made up of Belgian retail parks, supermarkets and high-quality retail property in smaller cities in the Netherlands and Belgium.