– RUSSIA, Moscow – AFI Development PLC (LSE:AFRB), announces that its Board of Directors has accepted the resignation of Lev Leviev from the position of Executive Chairman of the Company effective 31st August 2018.
The Board has appointed David Tahan as Non-executive Chairman of the Company effective from 1st September 2018. The Board has also appointed Mark Groysman as an Executive Director effective from 1st September 2018. Mr Groysman will serve as a Board member for an interim period until a new Board member has been appointed.
Mr Mark Groysman leads the Russian operations of AFI Development in the capacity of CEO of AFI RUS LLC, the main operating subsidiary of the Company. Mr Groysman was an executive member of the Board of AFI Development between 2012 and 2016.
About AFI Development
Established in 2001, AFI Development is one of the leading real estate development companies operating in Russia. AFI Development is listed on the Main Market of the London Stock Exchange and aims to deliver shareholder value through a commitment to innovation and continuous project development, coupled with the highest standards of design, construction and quality and customer service.
AFI Development focuses on developing and redeveloping high quality commercial and residential real estate assets across Russia, with Moscow being its main market. The Company’s existing portfolio comprises commercial projects focused on offices, shopping centers, hotels and mixed-use properties, and residential projects. AFI Development’s strategy is to sell the residential properties it develops and to either lease the commercial properties or sell them for a favorable return.
AFI Development is a leading force in urban regeneration, breathing new life into city squares and neighborhoods and transforming congested and underdeveloped areas into thriving new communities. The Company’s long-term, large-scale regeneration and city infrastructure projects establish the necessary groundwork for the successful launch of commercial and residential properties, providing a strong base for future.
For more information : http://www.afi-development.com
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