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Surprise exit of Unibail-Rodamco-Westfield’s CEO shakes up the French retail giant
A major leadership shake-up has hit Unibail-Rodamco-Westfield (URW), the French commercial real estate giant that owns some of Europe’s largest shopping centers, including Forum des Halles in Paris and La Part-Dieu in Lyon.
The group announced that its CEO and Chairman of the Management Board, Jean-Marie Tritant, will step down at the beginning of 2026. He will be succeeded by Vincent Rouget, currently the company’s Chief Strategy and Investment Officer.
The decision comes as a surprise: Tritant’s mandate had been renewed just last April and was expected to run until 2028. A long-time figure within URW, he took over as CEO in early 2021, following a dramatic boardroom shake-up led by activist shareholders Léon Bressler — a former company head — and Xavier Niel, founder of telecom operator Free.
At the time, Bressler and Niel, who jointly controlled around 10% of URW’s capital, had successfully opposed a proposed €3.5 billion capital increase by former CEO Christophe Cuvillier, arguing that it would dilute shareholder value.
URW, heavily indebted after its €21 billion acquisition of Westfield in 2018, has since faced strong financial pressure amid changing retail trends and declining foot traffic in major malls.
Vincent Rouget, who has played a key role in URW’s restructuring and investment strategy over the past few years, is expected to focus on deleveraging the group and adapting its portfolio to the post-pandemic retail landscape.
The market has reacted cautiously to the news, with investors awaiting more clarity on the company’s strategic direction under Rouget’s leadership.
