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14.07.2014 – 07:51

Atrium European Real Estate Limited

EANS-Adhoc: Atrium European Real Estate Limited

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this


         Mrs. Lavine will assume a new role as Executive Vice Chairman

              Mr. Josip Kardun will succeed Mrs. Lavine as CEO

Ad hoc announcement - Jersey, July 14, 2014: Atrium European Real Estate Limited
("Atrium") (VSE/Euronext: ATRS), a leading owner, operator and developer of
retail real estate and shopping centres in Central and Eastern Europe, announces
that the group Chief Executive Officer, Rachel Lavine, will assume the role of
Executive Vice Chairman as of November 30, 2014 and remain a director of Atrium.
 She will be succeeded in the role of Chief Executive Officer of the Atrium
group by Mr. Josip Kardun, the Atrium group's current Chief Operating Officer
and Deputy Chief Executive Officer, a position he has held since February 14,

In her new role, Mrs. Lavine will continue her involvement in the overall
strategic direction and development of the Atrium group.  During the period
until November 30, 2014, Mrs. Lavine will oversee an orderly transition of the
day-to-day running of the group and the other responsibilities and duties of the
group CEO to Mr Kardun.  

Mr Kardun, who serves on the Executive Board of ICSC Europe, is a highly
experienced retail property professional with a strong international operational
and transactional track record and a comprehensive understanding of the Atrium
group's core businesses in its regions of activity. Prior to joining the Atrium
group, Mr. Kardun was with European retail property specialists ECE
Projektmanagement GmbH & Co KG ("ECE") where he worked for seven years in a
number of senior positions, most recently as its Chief Investment Officer and
Head of Mergers & Acquisitions and Transaction Management Group. 

Chairman of the Board, Mr. Chaim Katzman commented: "Rachel Lavine has acted as
CEO of the Atrium group since the change of control of Atrium was effected in
August 2008, and has shown considerable skill, talent and acumen in transforming
the group into one of the leading and most respected real estate enterprises in
Europe.  Under Rachel's leadership, the Atrium group has experienced five
consecutive years of growth, seen its portfolio enhanced through strategic
acquisitions, dispositions and development and established a regime of strong
corporate transparency.  In addition, Rachel has built up a team of highly
professional and dedicated executive officers.  We are absolutely delighted that
she will continue in a senior executive and strategic role within the group and,
on behalf of the Board of Directors, I would like to express our appreciation
and gratitude for Rachel's untiring efforts and for her many and varied
contributions to the successful transformation of the group during her tenure as

"The Board is confident that, with Josip Kardun's wealth of experience, in-depth
knowledge of group's business activities and its regions of operation, he is a
worthy successor as CEO of the Atrium group. The Board joins me in wishing him
every success in his new position."

Rachel Lavine commented:  "It has been a fascinating challenge to have led the
Atrium group out of its difficulties in 2008 and I am pleased that the past six
years of endeavor have yielded such positive results for the group. 

"Having overseen a period of sustained growth, I have decided that the time has
come to hand over the reins of day-to-day group management to a new generation
of leadership, and I have every confidence that my colleague Josip has the
requisite experience, talent and ability to build on our achievements. I will of
course be working closely with both the Board and Josip in order to ensure not
only a smooth and orderly transition of executive responsibilities, but also to
assess and prioritize the strategic goals of the group. I wish Josip every
success in his new position as Atrium's group Chief Executive Officer.  

"I am proud to have been able to work with an outstanding team of professionals,
each of whom has selflessly contributed efforts and talents to the success of
the group.  I would also like to express my heartfelt gratitude and appreciation
to the members of the Board of Directors of Atrium whose guidance and support
have been invaluable, and who have given their combined expertise and experience
to set and achieve our strategic priorities and goals." 

Josip Kardun commented:  "I am both proud and excited to have been nominated as
the future Chief Executive Officer of the Atrium group. I am acutely aware of
the impressive transformation the group has undergone under Rachel's strong
leadership and I look forward to working closely with the Board of Directors of
Atrium, with Rachel and with the group's talented and dedicated executive team
in order to continue our successes in the future." 

For further information: 

FTI Consulting Inc.:                                                   +44 (0)20
3727 1000 
Richard Sunderland
Stephanie Highett
Nick Taylor 

About Atrium European Real Estate 

Atrium is a leading real estate company focused on shopping centre investment,
management and development in Central and Eastern Europe. As at 31 March 2014
the Group owned 153 shopping centres and retail properties, with a market value
of EUR2.5 billion, diversified across seven countries with a total gross
lettable area of 1.3 million sqm. In 2013, Atrium produced a gross rental income
of EUR203.5 million.  

The Company is based in Jersey and dual listed on the Vienna and Euronext
Amsterdam Stock Exchanges under the ticker ATRS. 

This press release appears as a matter of record only and does not constitute an
offer to sell or a solicitation of an offer to purchase any security. 

Atrium is established as a closed-end investment company incorporated and
domiciled in Jersey and regulated by the Jersey Financial Services Authority as
a certified Jersey listed fund. Atrium is registered with the Dutch Authority
for the Financial Markets as a collective investment scheme which may offer
participations in The Netherlands pursuant to article 2:66 of the Financial
Supervision Act (Wet op het financieel toezicht).  Appropriate professional
advice should be sought in the case of any uncertainty as to the scope of the
regulatory requirements that apply by reason of the above regulation or
registration.  All investments are subject to risk. Past performance is no
guarantee of future returns. The value of investments may fluctuate. Results
achieved in the past are no guarantee of future results.

Further inquiry note:
FTI Consulting Inc
+44 (0)20 7831 3113
Richard Sunderland
Stephanie Highett

end of announcement                               euro adhoc 

issuer:      Atrium European Real Estate Limited
             Seaton Place 11-15
             UK-JE4 0QH  St Helier Jersey / Channel Islands 
phone:       +44 (0)20 7831 3113
sector:      Real Estate
ISIN:        JE00B3DCF752
indexes:     Standard Market Continuous
stockmarkets: official market: Wien 
language:   English

Original content of: Atrium European Real Estate Limited, transmitted by news aktuell

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