Centro names Tsenin as Chief to replace Rufrano

Centro Properties Group, the Australian developer restructuring after its assets shrank A$5.7bn ($5.2bn) in the first half of 2009, appointed Robert Tsenin as chief executive officer. Tsenin will replace Glenn Rufrano, who is stepping aside two years after he took over with the company struggling to repay debt taken on to help fund $9bn of US retail property acquisitions. Rufrano became CEO following an 82 per cent decline in Melbourne-based Centro’s share price over the final month of 2007.