Finnish retail chain Kesko Group announced today (Monday) that it is reorganising its real estate operations.
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It said it was transferring the steering of real estate investments and the profit responsibility for real estate throughout their whole life cycle to the division parent companies. The plan is also to transfer those real estate operations relating to the store site process that are still centralised to the division parent companies.
According to the plan, a small corporate level steering and service unit, the real estate services department, is being established to run the real estate function of the group.
The new Real Estate Services Department will be headed by Tapio Erme, as from 1 May 2005. On 17 March 2005, senior vice president Terho Kalliokoski, currently in charge of Kesko real estate, was appointed as Kesko Food Ltd’s president as from 1 May 2005.
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By GlobalData
