Johannesburg - Indluplace chief executive Gerald Leissner is to step down effective from March 14, but remains an executive director of the listed residential property-focused real estate investment trust.
Indluplace said yesterday that Carel de Wit, currently the chief financial officer of the fund and previously a group finance executive at Massmart Holdings, would take over from Leissner as chief executive.
Terence Kaplan has been appointed financial director. Indluplace added that De Wit, a qualified chartered accountant, had also previously worked for Redefine Properties and lived and worked in the UK for eight years, where he gained experience in both the banking and healthcare sectors.
Indluplace shares on the JSE were last quoted down 6.36 percent at R10.30, which valued the company at R2.45 billion.
BUSINESS REPORT