Plaza Centers N.V. RETIREMENT OF CHIEF EXECUTIVE OFFICER (5291B)

TIDMPLAZ

RNS Number : 5291B

Plaza Centers N.V.

11 January 2018

11 January 2018

PLAZA CENTERS N.V.

RETIREMENT OF CHIEF EXECUTIVE OFFICER

Plaza Centers N.V. ("Plaza" or the "Company"), announces that the CEO, Dori Keren will retire from his position at the end of March 2018.

Dori Keren, CEO of Plaza, said: "I am pleased to have devoted 11 years to Plaza, which offered a unique real estate platform focusing on retail development in CEE and the region's investment market. The Global Financial Crisis impacted on the Company's business strategy, meaning that recent years have been dedicated to implementing a demanding debt restructuring and repayment programme, which brought a very different set of challenges for the Group's management to overcome. I want to express my gratitude to the management and all of my colleagues at Plaza, while I also want to thank the Board for giving me the opportunity to take the helm. I wish them all the very best for the future."

Ron Hadassi, Chairman of Plaza, commented: "On behalf of myself and the Board, I would like to thank Dori Keren for his contribution to Plaza. Dori has spent more than a decade with the Company, commencing in 2006 as Financial Director of the Company's business in Poland and Latvia, and subsequently serving as Managing Director and CFO of Poland and Latvia, before being appointed CEO in 2016. During the last two years he has overseen an extensive disposals programme which has significantly decreased the Company's debt and we wish him the best of luck in his future endeavours.

Ends

For further details, please contact:

Plaza

Dori Keren, CEO [phone]

FTI Consulting

   Dido Laurimore / Claire Turvey / Tom Gough                                     [phone] 

Notes to Editors

Plaza Centers N.V. (www.plazacenters.com) is an emerging markets developer of shopping and entertainment centres. The Company is listed on the Main Board of the London Stock Exchange, as of 19 October 2007, on the Warsaw Stock Exchange (LSE: "PLAZ", WSE: "PLZ/PLAZACNTR") and, on the Tel Aviv Stock Exchange. Plaza Centers N.V. is an indirect subsidiary of Elbit Imaging Ltd. ("EI"), an Israeli public company whose shares are traded on both the Tel Aviv Stock Exchange in Israel and on the NASDAQ Global Market in the United States. Plaza Centers has been active in real estate development in emerging markets for over 22 years.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 11, 2018 04:00 ET (09:00 GMT)