Gecina SA, Paris’s largest publicly traded office landlord, said Philippe Depoux will replace Bernard Michel as chief executive officer. Michel will remain chairman of the company.
Depoux, 51, will take on the new role on June 3, Gecina said in a statement today. He had been a manager at French real estate companies owned by Assicurazioni Generali SpA, Italy’s biggest insurer, since 2008, according to the statement.
Michel has been Gecina’s chairman since February 2010 and CEO since October 2011. In February, the Paris-based company reported full-year earnings that beat its own forecast after rental margins widened.