James Templeton CEO of Emira Property Fund has resigned to pursue personal interests outside of the listed property sector.
Emira Property Fund said on Monday that its Chief Executive Officer James Templeton would step down end of August 2015, to pursue personal interests outside of the listed property sector.
Templeton has been at the helm since July 2004, having been an equities analyst at Barnard Jacobs Mellet Securities for seven years before that.
The process to replace him is underway, and Emira confirmed an announcement in this regard is expected shortly.
Ben van der Ross, Chairman of the Emira Board, comments: “We acknowledge and thank James for his dedication and contribution as Emira Chief Executive Officer. We wish him everything of the best for his future endeavours.”
Considering that Emira had some tough years post-recession, in which it tried to get rid of dud assets such as the World Wear Shopping Centre, Templeton leaves Emira in a healthy position after his 11 years as CEO, with distribution growth of 9% in the six months to December 2014.
“The outlook for Emira is positive, it has a great team in place, a strong board and an outstanding portfolio of assets, so investors’ interests are being extremely well looked after” says Templeton.
Emira is a JSE-listed SA REIT (real estate investment trust) invested in a diversified portfolio of office, retail and industrial properties. Its assets comprise 148 properties valued at R12.5 billion.
Emira is also internationally diversified through its direct interest in ASX-listed Growthpoint Properties Australia (GOZ), valued over R700 million, with total assets now at R13.5 billion.