Josip Kardun, CEO of Multi Corporation, Blackstone's pan-European retail arm, has announced he is leaving the company as of November 1 to 'pursue personal business interests'.
Kardun was appointed to the management board in 2017 and has contributed to the expansion of Multi's property management portfolio during his tenure.
'I feel privileged to have led Multi Corporation over the past two and a half years,' Kardun said.
'During this time we have continued to develop Multi as a leading retail real estate service platform in Europe and Turkey, creating and revitalising exciting destinations for local communities to shop and meet.
'However, after many years working for a number of companies, the time has come for the next step in my career and for me to pursue my own business. I would like to thank all Multi employees, my colleagues on the management board and Blackstone as shareholder for their support during my tenure and wish them all the best for the future,' Kardun added.
Steven Poelman, chief financial officer of Multi Corporation, said: 'On behalf of the management board, I wish to express our appreciation for Josip’s service to Multi and his excellent management during his tenure.
'Josip was instrumental in expanding our property management portfolio for institutional investors, aligning Multi’s international businesses in one matrix structure and introducing new procedures and standards to improve business processes and inter-office cooperation. We are grateful for his commitment and dedication and wish him every success in his future endeavours.'
James Seppala, European head of real estate at Blackstone, added: 'We are grateful to Josip for his essential role in driving forward the business and making Multi what it is today. We look forward, together with the Multi management board, to continuing to build on the operational success of the company and wish Josip every success.'