{"id":38847,"date":"2022-04-28T15:42:39","date_gmt":"2022-04-28T10:12:39","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-embassy-reit-2\/"},"modified":"2022-04-28T15:51:48","modified_gmt":"2022-04-28T10:21:48","slug":"biz-embassy-reit-2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-embassy-reit-2\/","title":{"rendered":"Embassy REIT CEO Michael Holland resigns; Vikaash Khdloya appointed as new CEO from July 1"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3488566137\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Apr 28 (PTI) Embassy Office Parks REIT&#8217;s chief executive officer Michael Holland has resigned from the company and Vikaash Khdloya has been appointed as the CEO with effect from July 1.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2976531749\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> Embassy REIT, sponsored by Embassy group and Blackstone, declared a distribution of Rs 499 crore or Rs 5.26 per unit for Q4 FY2022. With this, the cumulative distribution for FY2022 totals Rs 2,063 crore or Rs 21.76 per unit, 1 per cent higher than the initial guidance, of which 82 per cent is tax-free for unitholders.<\/p>\n<p> The Net Operating Income (NOI) grew by 23 per cent to Rs 2,491 crores during the last fiscal.<\/p>\n<p> According to a regulatory filing, the board of Embassy Office Parks Management Services Pvt Ltd, which is the manger to Embassy REIT, has accepted the resignation of  Michael Holland, Chief Executive Officer of the company as Manager to Embassy REIT with effect from close of business on June 30, 2022.<\/p><div class=\"trade-content_5\" id=\"trade-1755928847\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> &#8220;Further, the Board of Directors also approved the appointment of Vikaash Khdloya, Deputy Chief Executive Officer and Chief Operating Officer, as the Chief Executive Officer of the company as Manager to Embassy REIT with effect from July 1, 2022,&#8221; it added.<\/p>\n<p> Khdloya has been a member of the senior leadership team of the Company since its listing in April 2019 and has been associated with the asset portfolio since 2011.<\/p>\n<p> Michael Holland will be relocating back to Europe.<\/p>\n<p> Khdloya said: \u201cDemand for high quality office parks and technology sector expertise in India continues to grow, providing significant tailwinds for Embassy REIT. I am excited and honoured to lead the REIT through this next phase of growth after working with the management team and sponsors for more than a decade.\u201d \t Jitu Virwani, Chairman of the Manager to Embassy REIT, said: &#8220;Vikaash is an extremely effective business leader, a worthy successor to Mike and we are confident of a smooth transition. We would also like to convey our deep gratitude to Mike for making Embassy REIT one of the leaders in Asian real estate.&#8221; PTI MJH  MR<\/p>\n<div class=\"trade-after-content\" id=\"trade-1954597103\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Apr 28 (PTI) Embassy Office Parks REIT&#8217;s chief executive officer Michael Holland has resigned from the company and Vikaash Khdloya has been appointed as the CEO with effect from July 1. Embassy REIT, sponsored by Embassy group and Blackstone, declared a distribution of Rs 499 crore or Rs 5.26 per unit for Q4 [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-38847","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Embassy REIT CEO Michael Holland resigns; Vikaash Khdloya appointed as new CEO from July 1 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-embassy-reit-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Embassy REIT CEO Michael Holland resigns; Vikaash Khdloya appointed as new CEO from July 1\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Apr 28 (PTI) Embassy Office Parks REIT&#8217;s chief executive officer Michael Holland has resigned from the company and Vikaash Khdloya has been appointed as the CEO with effect from July 1. 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