Alexander Hergan steps down as Avrig 35 chief executive

Businessman Alexander Hergan, one of the most powerful yet discreet Romanian investors in real estate, has left his position as CEO of Avrig 35, which he founded more than ten years ago, being replaced by Haydn Wright, who has recently joined the company.
Hergan, 63, is best known for developing offices for companies such as Petrom and Vodafone - Charles de Gaulle Plaza, and the buildings on Avrig Street, near Piata Obor (Obor Market), with the businessman managing to sell properties with a cumulated value of around 330 million euros over time.
Sources from the real estate market say the company needed a breath of fresh air, both financially and on a management level, with Hergan to stay on in the company as a minority shareholder and other companies to become shareholders, as well.