Alexander Hergan leaves helm of Avrig 35, Haydn Wright new CEO

Real estate developer Avrig 35's CEO and founder Alexander Hergan (in picture) has left the helm of the company, being replaced by Haydn Wright, the real estate developer has announced. Hergan is the founder of Avrig 35, being one of the four American investors who have set up the group in 1999. Hergan is known for the development and sale of Charles de Gaulle Plaza in 2006, among others. Local media have called him a discrete real estate investor, as for several years he has avoided media exposure. A senior management restructuring has also been implemented within Avrig 35 in response to the global financial crisis and difficult economic conditions in Romania. The Executive Vice President roles will be filled by Matthew Proskine, the current Commercial Sales and Marketing Director, and Ian Beatty, who has represented Avrig shareholders for the past four years. The new team’s immediate focus will be the completion of the Avrig 7 Business Center, a 30,000sqm office project in Piata Obor, the World Class Gym in the Iris Shopping Center Titan and the development of the 100,000sqm Pallady Shopping Center anchored by Auchan and Decathlon. Avrig 35 will begin construction in the coming months on Pallady Shopping Center, a 100,000 sqm retail scheme anchored by Auchan and Decathlon. Avrig 35 has begun construction on a 30,000 sqm, two-building office complex near Piata Obor, called Avrig 7 Business Center. Avrig 35 has completed two stand alone box units in the Iris Shopping Center Titan including Kiabi and Norauto and is beginning construction on World Class and Go Sport with the opening scheduled in January 2011.