centro moves to simplify structure...

Source: www.businessspectator.com.au

Centro moves to simplify structure
10:29 AM, 18 Oct 2008

Centro Properties has brought in new independent directors to replace its retiring board members as it moves to seperate its business units, reported The Sydney Morning Herald.

Group chairman Paul Cooper said yesterday the move was an important part of making Centro's business easier to run, as the property group worked to avoid being put into administration.

Centro has appointed ex-Deloitte executive Rob Wylie as a non-executive director of Centro Properties and Avin Lieberman as a non-executive director of Centro Retail Trust.

Mr Wylie and Mr Lieberman will replace Peter Wilkinson and Sam Kavourakis.

The paper reported that Centro had been criticised for having a highly interdependent company structure and complex operations.


Ends.

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