As a part of an in-depth restructuring process, Orco Property Group is moving forward with a personnel shuffle. The company has appointed Jiří Dedera new CEO after Tomáš Salajka’s departure from the post two days ago. Prior to his appointment, Dedera served as the company’s deputy CEO. Salajka will keep his seat on the company’s board, and according to an Orco statement, he will focus on asset management for CPI.
At the same time, Pavel Spanko will replace one of the empty seats on Orco’s board after Radovan Vitek’s resigned. The company is to place 200 million shares on the market, half of which will be taken over by Aspley Ventures Limited and Fetumar Development Limited.
Orco offloaded its troubled Złota 44 project in Warsaw earlier this year to the US fund Amstar and the Polish developer BBI Development for €63m. BBI Development will oversee the project’s investment process. This includes picking the general contractor and securing financing. BBI will also handle sales and retail leasing.
