TK Development names new CEO to reflect strategy change

Danish builder TK Development has announced the appointment of Søren Kempf Holm as new CEO.

Holm, aged 52, joins from Topdanmark Ejendom where he held the post of chief operating  officer and CEO since 2015.

He will join TK Development on or before 1 December 2018.

The appointment comes at a time of strategy change for TK which late last year announced plans to exit Poland and focus solely on the Danish and Swedish property development business.

TK's Polish portfolio largely consists of three shopping centres, the fully-owned 17,500 m2 Galeria Sandecja in Nowy Sacz, and a 30% stake in the 25,000 m2 Galeria Nowy Rynek mall in Jelenia Góra and in the 17,000 m2 Galeria Tarnovia mall in Tarnów.

The company's current CEO Frede Clausen, who has been the head of the group since 2002, is now expected to step down.

TK's chairman Peter Thorsen said: 'In Søren Kempf Holm, we have found a new CEO with broad experience and a documented track record in purchasing, selling and developing real estate. On the board, we are confident that Søren is the right person to lead the ongoing transformation of TK Development and to meet our high expectations for profit growth and value creation.'


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