JSE-listed real estate investment trust (Reit) Octodec Investments has announced that incoming executive FD and debt officer Riaan Erasmus will also assume the position of deputy CEO, with effect from November 30.

The company says this is in line with its long-term succession plan aimed at growing the business sustainably. 

In his new role, Erasmus will be employed full-time by Octodec, specifically focusing on optimising the group’s property portfolio and assessing the merits of the internalisation of the asset and property management services currently provided by City Property Administration.

These responsibilities will sit alongside his primary duties as executive FD and debt officer. 

“Succession planning has been a large focus over the last few years as we continue to plan the sustainable growth and future success of Octodec. The board is confident in Riaan’s ability to seamlessly transition into this new dual role, providing the necessary expertise and continuity required by Octodec,” says Octodec chairperson Sharon Wapnick.

Erasmus graduated from North-West University and qualified as a chartered accountant (South Africa) in 2008 after completing his articles with KPMG South Africa.

Octodec says he has extensive experience serving as an executive director, having previously held the positions of group financial manager, treasury manager and, later, debt officer and financial director of Hospitality Property Fund, a Reit that was listed on the JSE until 2021.

In addition, Erasmus served as the group treasurer managing the debt portfolio and other treasury-related transactions for the Tsogo Sun and Southern Sun group of companies from 2017 until 2022. 

“Riaan has a keen passion for, and understanding of, not only property, but the unique composition of Octodec’s business, and is the right person to take the portfolio to new heights. I look forward to Riaan’s contribution in his new capacity as he prepares to ultimately succeed me,” says Octodec MD Jeffrey Wapnick.