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Guedes de Oliveira Named CEO at Sonae Sierra

LISBON, PORTUGAL-Founder Alvaro Portela has retired after 20 years. The new officer said the firm will concentrate in its six European markets, and more in Brazil.

By Allan Saunderson | Updated on April 12, 2010

LISBON, PORTUGAL-As expected, Fernando Guedes de Oliveira has taken over as CEO of shopping centre developer and investor Sonae Sierra after the retirement of founder Álvaro Portela, who has had 20 years at its helm. Guedes de Oliveira will be responsible for global coordination of activities and strategy.

With Sonae Sierra since 1991, Guedes de Oliveira was appointed development manager for Europe in 1999, and one year later was invited onto the board of directors. “I am very happy that the transition, that was planned and prepared since the beginning of 2008, has been smooth both for me personally and for the company,” Guedes de Oliveira said in a statement. “Sonae Sierra will continue to be…an international specialist in shopping centres, with a passion for bringing innovation and emotion into this industry. At the moment we continue to be focused in six European markets – Portugal, Spain, Italy, Germany, Greece and Romania – and Brazil. We will concentrate more efforts in Brazil…and we will continue actively looking to new opportunities.” However any decision to enter a new market is dependent on a global economic recovery, he added.

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