Plaza Centers' chief executive Dori Keren will retire from his position at the end of March 2018.
Keren has spent more than a decade with the company, starting in 2006 as financial director of the company's business in Poland and Latvia, and subsequently serving as managing director and CFO of Poland and Latvia, before being appointed CEO in 2016.
Keren said: "The global financial crisis impacted on the company's business strategy, meaning that recent years have been dedicated to implementing a demanding debt restructuring and repayment programme, which brought a very different set of challenges for the group's management to overcome."
Ron Hadassi, chairman of Plaza, added: "During the last two years he has overseen an extensive disposals programme which has significantly decreased the company's debt and we wish him the best of luck in his future endeavours."
At 9:19am: (LON:PLAZ) Plaza Centers NV share price was 0p at 87.5p