Unibail-Rodamco-Westfield Supervisory Board Updates and Changes

Unibail-Rodamco-Westfield Supervisory Board Updates

The Supervisory Board (SB) of Unibail-Rodamco-Westfield (URW) convened recently to discuss significant changes in its membership and strategic direction.

Leadership Transition within the Board

In a pivotal moment for the board, Mr. Xavier Niel has decided to resign as a member effective immediately. His departure is tied to his recent appointment on ByteDance’s Board of Directors, the parent company of TikTok. The SB’s chairman expressed gratitude for Niel's immense contributions during his tenure.

Co-optation of New Member

Following Mr. Niel's resignation, the board welcomed Mr. Michael Boukobza as a co-opted member for the remainder of his term. Niel advocated for Boukobza, emphasizing his 25 years of experience and strong expertise. "Michael brings extensive knowledge in finance, ESG, and digital commerce. His leadership will surely bolster the collective skills of the SB," remarked Niel.

Mr. Boukobza's Background

At 46 years old, Boukobza holds degrees from notable institutions like ESCP and Paris Dauphine. His career spans diverse sectors, including telecommunications and media. He has built a robust profile in entrepreneurship, cost optimization, and mergers and acquisitions. The board sees his experience as invaluable as it navigates future opportunities.

Future Steps for the Board

The co-optation of Mr. Boukobza will require ratification at the upcoming annual Shareholders' Meeting for authority confirmation. This shows the board's ongoing effort to maintain robust governance and leadership.

About Unibail-Rodamco-Westfield

URW is renowned for its commitment to developing and operating sustainable real estate assets in vibrant cities across Europe and the United States. With a portfolio including 71 shopping centers across 12 countries, 39 of which are Westfield-branded, URW draws over 900 million annual visits, providing retailers a unique platform to reach consumers.

Expanding Development Pipeline

The company’s pipeline includes €2.9 billion focused on mixed-use developments. Their extensive portfolio features a combination of retail (86%), offices (6%), and other venues, uniquely catering to urban markets. The firm is dedicated to urban regeneration and sustainability, underlined by its Better Places program.

Strong Market Position

URW holds a strong market presence in the real estate sector and is recognized for its investment-grade ratings from major credit agencies. The company's shares are publicly traded on Euronext Paris (Ticker: URW) and add to a robust investment ecosystem.

Contact Information for Further Inquiries

For investors seeking more information, URW's Investor Relations team can be contacted. Reach out to Meriem Delfi or Gonzague Montigny using the provided phone numbers, or through email.

Frequently Asked Questions

What was the purpose of the Supervisory Board meeting?

The meeting was held to discuss leadership changes and strategic initiatives following the resignation of a board member.

Who is Mr. Michael Boukobza?

Michael Boukobza is the newly co-opted member of the Supervisory Board, bringing extensive experience in finance and digital sectors.

What are the upcoming steps for Boukobza's appointment?

His co-optation is subject to ratification at the next annual Shareholders’ Meeting.

What is Unibail-Rodamco-Westfield known for?

URW specializes in owning and operating premium real estate assets in key urban locations, focusing on sustainability and innovative development.

How can investors contact URW for more information?

Investors can reach out via phone or email to the Investor Relations team for any inquiries or details regarding their investments.

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