Management structure

Arricano Real Estate Plc, being a public company limited by shares, is headed by the Board of Directors. Composition of the Board of Directors is set out in the company's Articles of Association and was facilitated by the shareholders of the company in accordance with applicable laws, requirements and best corporate governance practices. The Board comprises of two independent non-executive Directors and one non-executive Director. The Directors report to the shareholders about the performance of the Group, its achievements and plans. The Directors may be appointed and dismissed by the shareholders of the company, all in accordance with the provisions of the Articles of Association.

The Company has assembled a strong Board comprised of individuals who together have relevant sector experience as well as prior experience on boards of publicly listed companies. The Board is responsible for key decisions relating to the Group’s activities, including approval of the Group’s long-term business strategy and annual business plans. The Board comprises of three Directors details of whom, together with details of the relevant sub-committees can be found here.

The Board has established an audit committee with formally delegated duties and responsibilities, comprising two independent non-executive Directors. The audit committee meets at least twice a year and is responsible for ensuring that the financial performance of the Company is properly reported and monitored, including reviews of the annual and interim accounts, announcement of results, internal control systems and procedures, and accounting policies.

The Board has also established a remuneration committee with formally delegated duties and responsibilities, comprising at least two independent non-executive Directors. The remuneration committee also meets at least twice a year and is responsible for setting the remuneration policy for the executives of the Company.

The Group’s management team combines extensive industry and market experience (of both private and publicly listed companies) with financial and management expertise, and its members have been involved with the real estate industry for, on average, more than 10 years. The Group’s experienced in-house management team is dedicated to managing all of the internal processes of the Group and the whole process of setting up and running a centre from the initial selection and acquisition of sites to the operation of completed projects. The Group has developed, and continues to refine, a management structure that is focused on enhancing accountability and decision making processes. The team consists of local Ukrainian and international managers, all with significant experience and familiarity with Ukrainian and international real estate markets.

Board of directors Committees Team
Volodymyr Tymochko
Non-Executive Director
Frank Lewis
Independent Non-Executive Director
Georgios Komodromos
Independent Non-Executive Director

Volodymyr Tymochko is a Managing Director of Private Equity, and a Partner at Dragon Capital. At this position he is responsible for investment management of DUPD – an AIM-listed property investment company with 10 active real estate projects in Ukraine. In 2007, Volodymyr was appointed a Director at Dragon Asset Management (“Dragon AM”), where he was in charge of deal sourcing and management of DUPD’s real estate projects. Prior to joining Dragon AM Volodymyr was an Associate Director for Consulting and Investment Services at Colliers International. Volodymyr graduated from the National University of Kyiv-Mohyla Academy and holds an MA degree in Economic Theory.

Frank Lewis has a wealth of public company experience, having served as Non-Executive Chairman and Director for a number of international publicly-quoted firms with interests across Europe, the Far East, Middle East and Africa, which has given him a sound understanding of different business cultures and working practices, as well as considerable expertise in numerous business sectors.
In addition to his non-executive roles, Frank had over 25 years of public and private company boardroom-level experience, including as Finance Director, CEO and Chairman, during which time he has been involved in numerous areas of business, including strategic planning, growth management, IPOs, corporate governance and regulatory compliance.

He is a Fellow of the Institute of Chartered Accountants in England & Wales, and was previously a member of the AIM Advisory Council, which advises the London Stock Exchange on matters relating to the AIM market.

George Komodromos is a Senior Lawyer/Associate  and the Head of the Financial Regulation Department at the law firm of NICOS CHR. ANASTASIADES & PARTNERS LLC, based in Limassol, Cyprus. George has over 12 years of legal experience, dealing with and advising mostly high net-worth individuals in the commercial sector. George practices several areas of law which mainly include commercial and corporate law, banking law, legal compliance, construction and property law.  During his legal career, George has dealt with and been involved in numerous important projects which include inter alia joint ventures of significant value, takeovers of private equity and investment companies and the business development of financial institutions in several jurisdictions including the jurisdiction of the Republic of Cyprus.

George Komodromos graduated and obtained his Bachelor of Laws (LL.B) from the National and Kapodistrian University of Athens (Greece) and thereafter obtained a Master of Laws (LL.M) with a specialisation in Commercial Law, from the University of Bristol (United Kingdom). He is currently a member of the Cyprus Bar Association.