Embassy REIT appoints Vikaash Khdloya as CEO and COO

28 Apr 2022 , 03:02 PM

Embassy REIT Limited, India’s first listed REIT and one of Asia’s largest office REITs, today announced the appointment of Vikaash Khdloya, currently Deputy Chief Executive Officer and COO as Chief Executive Officer of the Manager to Embassy REIT.

Vikaash Khdloya is an industry veteran with nearly two decades of experience in finance and real estate. He has held his current position since Embassy REIT’s listing in April 2019, following seven years with Blackstone India as a real estate asset manager. He will assume the role of CEO on July 1, 2022, following a transition period working closely with current CEO, Michael Holland, who will be relocating back to Europe.

Vikaash Khdloya said: “Demand 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.”

In line with corporate governance best practices, a transition plan had been put in place and Michael and Vikaash have been working closely for over the past 3 years with this in mind. The successor selection process was spearheaded by the Embassy REIT board. Two global HR advisory firms were engaged to report to the Nomination & Remuneration Sub-Committee comprising of two-thirds Independent Directors and charged with succession planning. The Committee evaluated the recommendations and unanimously recommended Vikaash as the next CEO.

Embassy Office Parks REIT is currently trading at Rs388.75 up by Rs0.1 or 0.03% from its previous closing of Rs388.65 on the BSE.