URW names new chief financial officer

Unibail-Rodamco-Westfield has promoted Fabrice Mouchel to group chief financial officer, replacing Jaap Tonckens in the role. It comes as chief operating officer Jean-Marie Tritant prepares to take the reins from Christophe Cuvillier as chief executive, after a shareholder revolt against plans for a €3.5bn (£3.1bn) equity issue. Mouchel will step into the job, and take a spot on the management board, on 5 January next year. He is currently group finance director and chief financial officer Europe, as well as a member of URW’s senior management team. He initially joined legacy Unibail in 2001 as head of corporate development. Before that, he was vice-president of mergers and acquisitions at ING-Barings from 1997. URW said that more management board changes are set to be “announced at a later date”. Léon Bressler, chairman of the supervisory board at URW, said: “I would like to sincerely thank Jaap Tonckens for his contribution and commitment to URW during his 11-year tenure. I wish Fabrice Mouchel every success in his new position.” Tonckens said: “I have very much enjoyed my 11 years at Unibail-Rodamco-Westfield and am grateful for the trust placed in me by the group’s supervisory board over the years. “There have been many highlights. My experience at URW has been particularly enhanced by the many incredibly talented and committed people I have worked with and I wish my colleagues every success and I am confident the group with its new leadership team will have a great future.”   To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette