Management
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 one independent non-executive Director, one non-executive Director and one Finance 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 of one independent non-executive Director and one non-executive Director. 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 now of one independent non-executive Director. 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.
Lauri Reinberg, who joined Arricano in October 2017, has over 20 years’ experience in financial management in Eastern European markets. Lauri previously served as CFO of Pocopay, a digital banking company based in Estonia, prior to which he held numerous senior finance roles in Swedbank. Between 2007 and 2009, Lauri had served as CFO of Retail Real Estate S.A., Arricano’s largest shareholder at that time. Lauri received his Master of Science degree in Business Administration from the Estonian Business School in 2002 and his Bachelor of Science degree from the University of Tartu in 1995.
Michalis Michael has a long professional career in business and audit services, both as a sole practitioner and as a Partner at KPMG Cyprus until his retirement last year. Michalis also has considerable experience in the Ukrainian market having been Chairman of the Cyprus-Ukraine Business Association from 2012, again until last year. Michalis formerly served as a Member of the Board of Directors of the Cyprus Broadcasting Corporation, Chairman of the Board of Directors of the Cyprus Organisation of Land Development and the Cyprus Investment Promotion Agency, a Member of the Committee for the Supervision and Development of Cooperative Societies and a Member of the Board of Directors of The Cyprus University of Technology (2014-2016). Michalis is a Chartered Certified Accountant, a Fellow member of the UK Association of Chartered Certified Accountants (FCCA) and Member of the Institute of Certified Public Accountants of Cyprus, of which he also served as a Member of the Board of Directors.
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.
Since October 2013, the Board of Directors established the operation of the following two committees: the Audit Committee and the Remuneration Committee. The Audit Committee comprises of two non-executive directors. The members are Mr. Georgios Komodromos and Mr. Michalis Michael. The Remuneration Committee comprises of оne non-executive director Mr. Georgios Komodromos.
On December 12, at the meeting of the Board of Directors of Arricano Real Estate plc, Anna Chubotina was appointed to the role of CEO on an ongoing basis.
Before Anna assumed the office of Arricano Director of Retail Leasing Department from March 2016. Management of Leasing Department, development and implementation of plan package for optimization of business processes of retail space lease with a view to increase the company’s profitability, creation and implementation of shopping malls’ development strategies, efficient work with the existing tenants and involvement of new ones are key areas of Anna’s work.
Anna came to Arricano from JLL Ukraine where she held the office of Retail Space Department Head.
She has been working for over 17 years in the field of commercial real estate 9 of which were at JLL Ukraine. Anna’s professional portfolio includes working with such large players of retail property market as SvitLand Ukraine, King Cross & Komfort Invest, Arricano Real Estate, DCH Real Estate, Kray Property and such projects as Décor Service national furniture and décor network, Sky Mall shopping mall (Kyiv), Prospekt shopping mall (Kyiv), MFC Silver Breeze (Kyiv), Magellan shopping mall, (Kharkiv), Victoria Gardens shopping mall (Lviv) and others.
Anna graduated from Romano-Germanic Philology and Foreign Literature faculty of M. P. Dragomanov National Pedagogical University. Then she obtained degrees in Economics and Marketing at Kyiv National University of Trade and Economics.
Lauri Reinberg has more than 20 years of experience in financial management and planning on Eastern European real estate markets.
Lauri joined the Arricano team in October 2017 as the Head of Financial Control. Prior to his role at Arricano, Lauri served as CFO of Pocopay, a large digital banking company based in Estonia.
Over 14 he had been holding numerous senior finance roles at the Financial Department of Swedbank, including the CFO of Financial Restructuring and Recovery and the CFO of Swedbank’s Eastern European operations. Between 2007 and 2009, Lauri served as the CFO of Retail Real Estate S.A. in Ukraine (formerly named Expert Capital S.A.).
Lauri received his Master of Science degree in Business Administration from Estonian Business School in 2002 and Bachelor of Science degree from University of Tartu in 1995.
As CFO, Lauri Reinberg will oversee Arricano’s finance, accounting, financial planning & analysis, tax and treasury areas of the business.
Nikolai Yakimenko joined Arricano team in 2010 as the head of projects and programs. He was responsible for the construction works in the lease areas during Sky Mall shopping center construction, and he also managed RayON shopping center project. In 2012, Nikolai was appointed to the position of the head of the "Lukianivka" project. Since February 2016, Mr. Yakimenko has been working in the position of acting head of development. Before joining Arricano, Nikolai worked as a project portfolio manager in the sphere of commercial real estate in one of Ukrainian equity investment companies. Nikolai’s career in the field of commercial real estate started in 2005 in the position of regional development manager of the network operator of "Amstor" grocery hypermarkets in the "Smart-Holding" group of companies.
Nikolai graduated from the "Kyiv National Economic University named after Vadym Hetman"(Ukraine), where he obtained a master's degree in "Investment Management”.
From November 2015, Olexander Nemer heads IT department of Arricano. Area of his responsibility includes issues of designing the company development strategy and tactics in IT area, management of in-house IT projects, design and organization of IT infrastructure.
Before Arricano, Olexander had over 11 years of professional experience in different areas of business of EasteOne Group (international investment and consulting group) on various positions: PJSC MMC-STB #1 TV channel in Ukraine – head of IT Infrastructure Exploitation Team, StarLightMedia - #1 media group in Ukraine – Deputy IT Director.
Olexander’s professional achievement portfolio includes a number of successful large-scale IT projects.
Nemer Olexander in 2004 graduated from Dnipropetrovsk National Mining University with a degree in Power Supply of Industrial Enterprises.He successfully completed his studies in the areas of ITIL and COBI; when implementing the tasks, he observes PMBoKprinciples.
Denys joined the Arricano team in June 2020 as a Director of the Retail Space Department.
Earlier, Denys worked for such leading consulting and development companies as Cushman & Wakefield, JLL, City Capital Group and UTG. He provided a comprehensive support for the projects of Alexander Plaza, Cosmopolite Multimall, Spartak, Victoria Gardens and Veles shopping malls located in Kyiv and in the regions. Denys's professional experience includes more than 8 years of work in the commercial real estate market, and his portfolio includes a number of successful Ukrainian projects.
Denys Kornuta has graduated from the National Linguistic University.
On August 17, 2020, the Arricano Legal Department in Ukraine was headed by Vitalii Nevinchanyi.
Vitaly's responsibilities include general management of the department, which consists of offices for dealing with residents and non-residents, legal support of the company's activities, as well as the implementation of innovative solutions in the relevant business processes.
Vitalii has experience as the head of the legal department at the world's leading retailer – Inditex group in Ukraine and as a lawyer at the leading law firm in Ukraine – Vasyl Kisil & Partners Law Firm.
Vitalii got the law degree at the Taras Shevchenko National University of Kyiv and the degree in economics at the Vadym Hetman Kyiv National University of Economics. Lawyer.