URW, a leading player in the shopping mall industry, has recently implemented significant structural changes to enhance its agility in today’s complex business landscape and to better prepare for the future. The appointment of Chief Investment Officer Olivier Bossard and Chief Resources Officer Astrid Panosyan to the extended management board represents a strategic move by the company to strengthen its leadership team.
Bossard’s primary focus will be on driving the group’s deleveraging efforts through asset disposals and implementing a value creation strategy. On the other hand, Panosyan will lead the organizational transformation efforts aimed at increasing operational efficiency and effectiveness within URW. The company is also set to undergo a decentralization process, whereby regions will be given more decision-making power and the corporate center will be streamlined.
The creation of four enlarged European regions and granting more autonomy to the US operations demonstrate URW’s commitment to aligning with local market dynamics and customer needs for sustainable value creation. Each region will be headed by a regional Chief Operating Officer (COO) reporting directly to the CEO, with the corporate center focusing on resource allocation and performance monitoring. The CFO will also play a crucial role in strengthening financial control and performance monitoring.
In addition, Michel Dessolain has been appointed as the interim Chief Customer Officer, who will oversee strategic marketing initiatives, innovation projects, data analytics, digital marketing, and new revenue streams. A permanent CCO will be recruited in the future to further enhance URW’s customer-centric approach and drive digital and data-driven strategies for future growth.
Furthermore, the establishment of an executive committee to support the management board underscores URW’s commitment to navigating the evolving retail landscape and positioning the company for long-term success in a rapidly changing environment. These strategic changes signal URW’s proactive approach to embracing change and driving innovation in the retail industry.
For more information about URW’s recent structural changes, please visit their official website here.
To stay updated on industry trends and developments in the shopping mall sector, check out this insightful article here.
