GTC appoints new CEO and sets next strategic priorities

Globe Trade Centre S.A. (“GTC”) announced that its Supervisory Board has appointed Mr Botond Rencz as President of the Management Board (Chief Executive Officer), succeeding Ms Małgorzata Czaplicka, who has led the Company during the bond refinancing process and will continue to provide advisory support to the Chairman of the Supervisory Board on strategic matters. The new CEO will focus on strengthening collaboration across GTC’s regional teams, completing the Company’s planned refinancings and divestments, and driving disciplined execution of the new mid-term financial plan to ensure stability, efficiency and long-term value creation.

This leadership change marks the conclusion of a transitional period and the beginning of a new chapter focused on operational excellence, strategic growth and financial stabilisation of GTC – one of the leading real estate players in Central and Eastern Europe. Over the past months, the management team has steered the Company through a demanding refinancing process, extending debt maturities and strengthening the balance sheet. These efforts have reinforced trust among GTC’s investors and partners.

Małgorzata Czaplicka, outgoing CEO of GTC, said: “I am proud that over the past months we have successfully navigated one of the most important financing projects in GTC’s recent history, securing a €455 million bond refinancing that strengthens our capital structure and supports our long-term resilience. Today, as the Company enters a new phase, I am confident that GTC’s strong team and sound fundamentals will ensure continued growth and value creation.”

Botond Rencz, newly appointed CEO of GTC, commented: “GTC is now in a solid position to move forward with clarity and purpose. My focus will be on close collaboration across the organisation, enhancing the efficiency of our operations and building one integrated Group where teams in every country work together and learn from each other. Completing our planned refinancings and divestments will reinforce our financial stability, while disciplined execution of our new mid-term plan will strengthen the balance sheet and unlock sustainable value.”

Jacek Bagiński, CFO of GTC, added: “We will continue to streamline processes, maintain a strong focus on efficiency, and ensure that every euro we spend contributes directly to value creation for our investors and partners.”

Botond Rencz has been with GTC since August this year, when he was appointed to the Management Board and assumed the role of Chief Business Sustainability Officer. Previously, he spent nearly 30 years with Ernst & Young and Arthur Andersen, holding various senior positions in Hungary and across the Central European region. He is a graduate of the Budapest University of Economics.