RDI REIT has announced that Mike Watters will be retiring from RDI and stepping down as an Executive Director and CEO during December 2020. Stephen Oakenfull who will succeed Mike Watters as Chief Executive, joins the Board today.
Stephen joined RDI in May 2007 and has held the role of Deputy CEO since 2013. He has a broad range of experience within real estate and capital markets and has previously held the role of Chief Operating Officer at RDI. Before joining RDI, Stephen held roles with DTZ Corporate Finance and Turner & Townsend in real estate corporate finance and management consulting roles respectively. Stephen is a CFA charterholder and holds a BSc (Hons) in Construction Management.
As CEO, Stephen will retain his role as a member of the Investment Committee and will also replace Mike Watters on the Sustainability and Social Responsibility Committee following his retirement in December 2020.
Gavin Tipper, Chairman, commented:
“I would like to take this opportunity to thank Mike, who founded the business in 2006, for his hard work and dedication over the past 14 years. Mike leaves the business in good shape, with a streamlined, higher quality portfolio and a strong balance sheet.”
“While there is work to be done in shaping the future trajectory of the portfolio, the Company is well positioned for growth and Stephen Oakenfull, who has been instrumental in driving much of the recent transformation, is the right person to deliver on the strategy to generate future value.”
Mike Watters, said:
“With substantial strategic progress having been achieved and the Company in good shape, I feel now is the right time to step down and hand over the reins. I wish Stephen and RDI every success in taking the business forward.”
Stephen Oakenfull, added:
“We have achieved a great deal of progress over recent months despite the challenging backdrop. There is plenty more to be done in delivering on the strategy and I am excited at the prospect of leading the business going forward.”