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Orco Property Group: Cut in Number of Board Members

People ♦ Published: January 8, 2014; 18:06 ♦ (Vindobona)

Shareholders of Luxembourger real estate company Orco Property Group voted to cut the number of board members from nine to five on Monday.

Orco Property Group: Cut in Number of Board Members / Picture: © Orco

The vote to lower the number of board members has come out in favor for Czech investor Radovan Vitek, who holds a 30.7-percent stake in the real estate company. According to the company’s spokeswoman the new board will consist of Vitek and another representative of two companies he has a control in with shares of Orco. Moreover, founder and CEO Jean-Francois Ott, who holds a…

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