MAS Real Estate appoints new CEO | Fin24

MAS Real Estate appoints new CEO

Jan 04 2018 13:34

Cape Town - Mas Real Estate announced in a note to shareholders on Thursday that Morné Wilken is the new CEO with effect from 1 January 2018.

This follows the resignation of Lukas Nakos, who ceased to be a director on 31 December 2017.

Mas Real Estate is listed on the Main Board of the JSE and the Euro MTF market of the Luxembourg stock exchange (LuxSE) and has been investing in Central and Eastern Europe over the past few years. It also has property investments in Germany, the UK and Switzerland.

Ron Spencer, chair of the board, thanked Nakos for his contribution to MAS. Nakos established and grew the business during his eight-year tenure as CEO.

At the same time, Spencer welcomed Wilken. The board has already worked closely with Wilken when he was a non-executive of MAS. Spencer believes Wilken's past experiences and knowledge of the business makes him an ideal fit to build on the wider business strategy and enhance the strong relationship developed with Prime Kapital. MAS has a joint venture with Prime Kapital, a company which developers retail properties in Central and Eastern Europe.

Finweek reported in August last year that Nakos would be stepping down as CEO of MAS due to a court case brought by the regulator in the Isle of Man "relating to the collapsed Louis Group, a company from which he resigned in 2008, will take up a lot of his time".

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