Westfield malls owner names new chief executive

The chief executive of the property giant behind the Westfield shopping centres in Stratford and White City, is to leave the company.

Unibail-Rodamco-Westfield said Jean-Marie Tritant has been appointed as chairman of the management board and group boss, succeeding  Christophe Cuvillier on January 1.

During a transition phase starting today, Tritant, most recently the group’s US boss, will hold the position of group chief operating officer.

Earlier this month shareholders in the firm, which has suffered due to the coronavirus crisis and lockdowns forcing shops to close, rejected a proposed €3.5 billion capital raise.

A consortium led by Léon Bressler, a former boss of Unibail (before its involvement with Westfield) and French technology entrepreneur Xavier Niel wanted the company to instead look at disposing the US portfolio “at realistic prices when the market is ready, eliminating high debt”. A UK disposal was not part of the consortium’s proposal.

Shareholders recently approved three supervisory board appointments, with members joining including Niel, Bressler and Susana Gallardo.

Bressler, chairman of the supervisory board of URW, said: “A transition phase is beginning for URW. I am delighted that Christophe Cuvillier has agreed to lead it for the Group. His long experience as CEO, particularly during the ongoing health and economic crisis, will be very valuable. I am convinced that Jean-Marie will lead the company with great success.”

Cuvillier said: “During this transition phase, I will work as always to protect the Group and help it go through this major crisis. I wish every success in his new position to Jean-Marie Tritant, with whom I have worked for close to 10 years. I wish that the group continues to nurture its spirit of innovation and pursues an ambition commensurate with the quality of its teams and assets. I would like here to pay tribute to all those with whom I have had the honour of working to develop URW.”

Cuvillier had led Unibail Rodamco since 2013, and led the acquisition of Westfield by Unibail-Rodamco and was appointed group chief executive of the of the combined group in June 2018.