The Board of Directors of Citycon Oyj and Oleg Zaslavsky have mutually agreed that Mr. Zaslavsky will step down from his position as CEO with immediate effect.

“The company thanks Mr. Zaslavsky for his efforts and wishes him the best in his future endeavors,” Citycon writes in a press release.

At the same time, the Board of Directors of Citycon Oyj has unanimously resolved to appoint Eshel Pesti as Citycon’s new CEO with immediate effect. Pesti will be based in Helsinki, Finland.

With over 17 years of operating European shopping center companies, Mr Pesti is a very experienced commercial leader delivering proven operational and financial performance. He has a strong track record in leading international real estate companies and currently serves as the CEO of G City Europe.

“I would like to welcome Eshel Pesti to Citycon. Eshel brings strong real estate experience and operational expertise, predominantly in urban shopping centers, and the Board unanimously believes he is the right person to lead the company going forward.  The Board remains committed to the company’s strategy to focus on high-quality assets in strong, growing urban markets in the major Nordic cities as well as further strengthening the company’s balance sheet. We are confident that together with the talented employees and management team, Eshel can position Citycon for long-term value creation,” says Chaim Katzman, Chairman of the Board of Directors, Citycon.

“I am truly honored for this opportunity to join Citycon, the leading retail real estate company in the Nordics. I am very much looking forward to building the company’s future and am dedicated to creating value for all of the company’s stakeholders,” says Eshel Pesti, incoming CEO, Citycon.