Growthpoint CEO Norbert Sasse to lead offshore expansion
SA’s largest real estate company, Growthpoint Properties, has repositioned its executive management as it looks to diversify against growing risks in SA. The company announced at a pre-close period investor conference that long-standing group CEO Norbert Sasse would assume a new role, in which he would focus on the company’s offshore expansion. MD Estienne de Klerk would become CEO for SA charged with managing the company’s R80bn domestic portfolio. Other people in senior management have been assigned new executive roles, including industrial portfolio director Engelbert Binedell, who has been promoted to chief operating officer for SA.
"We believe this new management structure will serve us well for the next five years. SA is a tough environment and we are well suited to managing an offshore portfolio as well as a domestic one," said Sasse. "We want to get offshore to account for about 30% of our business. I will spend much of my time travelling to monitor our operations in A...