Organisational changes and appointments within Covivio's management
Tugdual Millet, current Chief Financial Officer of Covivio, has been appointed
Chief Executive Officer of Covivio Hotels, alongside Elsa Tobelem, from now on
Deputy CEO for Operations. This change in the organization of the Covivio
hotels subsidiary follows the departure of Dominique Ozanne, who has chosen to
pursue new professional projects. On this occasion, Paul Arkwright, current
Director of Financial Control, Corporate Finance and Investor Relations at
Covivio, becomes Group Chief Financial Officer. These appointments will be
effective from 1 July.
Tugdual Millet, 43, a graduate of ESCP Europe, joined Covivio in 2004 and has
served as Chief Financial Officer since 2010. He previously held various
positions within the Group, notably in acquisitions and corporate development.
He has contributed to Covivio's strategic developments for more than 10 years,
notably the strong growth and more pronounced European focus of the portfolio,
whose value increased from EUR13.8 billion at the end of 2010 to over EUR25
billion at the end of 2020.
Elsa Tobelem, 39, a graduate of ESSEC, joined Covivio Hotels as Investment
Analyst and Asset Manager in 2006. Appointed Chief Investment Officer in 2012,
she participated actively in the transformation of the group hotel portfolio
through significant investments, notably in Germany, Spain and the United
Kingdom. In 2018, Elsa Tobelem was appointed Deputy CEO in charge of Finance of
Tugdual Millet will take up his duties alongside Elsa Tobelem on 1 July 2021.
Christophe Kullmann, CEO of Covivio, said: "I would like to give my thanks to
Dominique Ozanne, who has devoted 18 years to Covivio and made our company the
European leader in hotel real estate, with a portfolio valued at EUR6 billion,
presence in 12 countries and a team unanimously recognised in the market. I
wish him good luck in his new entrepreneurial endeavours. I am very pleased
that Tugdual Millet and Elsa Tobelem are taking over the management of Covivio
Hotels. Their expertise, commitment and knowledge of Covivio make them the best
people, along with all our teams, to take on the management of the hotel
business and continue the development of Covivio Hotels."
Paul Arkwright, 35, a graduate of Paris Dauphine University and a CFA
Charterholder, began his career in 2008 at Invest Securities, as a financial
analyst specialising in the real estate sector. He joined Covivio as Head of
Investor Relations and Financial Communication in 2014. Working within
Covivio's Finance Department, where he notably led the merger with Beni Stabili
in 2018, he was appointed Director of Financial Control, Corporate Finance and
Investor Relations in 2019.
Christophe Kullmann added: "These changes further testimony to Covivio's
ability to develop talents and offer its teams, regardless of the business
line, stimulating and ambitious careers on a European scale."
Thanks to its partnering history, its real estate expertise and its European
culture, Covivio is inventing today's user experience and designing tomorrow's
A preferred real estate player at the European level, Covivio is close to its
end users, capturing their aspirations, combining work, travel, living, and
co-inventing vibrant spaces.
A benchmark in the European real estate market with 26 BnEUR in assets, Covivio
offers support to companies, hotel brands and territories in their pursuit for
attractiveness, transformation and responsible performance.
Build sustainable relationships and well-being, is the Covivio's Purpose who
expresses its role as a responsible real estate operator to all its
stakeholders: customers, shareholders and financial partners, internal teams,
local authorities but also to future generations and the planet. Furthermore,
its living, dynamic approach opens up exciting project and career prospects for
Covivio's shares are listed in the Euronext Paris A compartment (FR0000064578 -
COV) and on the MTA market (Mercato Telematico Azionario) of the Milan stock
exchange, are admitted to trading on the SRD, and are included in the
composition of the MSCI, SBF 120, Euronext IEIF "SIIC France" and CAC Mid100
indices, in the "EPRA" and "GPR 250" benchmark European real estate indices,
EPRA BPRs Gold Awards (financial + extra-financial), CDP (A-), 5 Star GRESB and
in the ESG FTSE4 Good, DJSI W orld & Europe, Euronext Vigeo (World 120,
Eurozone 120, Europe 120 and France 20), Euronext(r) CDP Environment France EW,
ISS ESG, Ethibel and Gaïa ethical indices.
Financial part: BBB+ / Stable outlook by Standard and Poor's
Extra-financial part: A1+ by Vigeo-Eiris