VANCOUVER, British Columbia, March 20, 2023 (GLOBE NEWSWIRE) — The Board of Directors of Metro Vancouver Properties Corp. (the Company), a Vancouver-based real estate company, reports that Mr. Marvin Haasen, President and CEO of the Company, has decided to retire effective July 17, 2023. Mr. Haasen has been the Company’s President and CEO for more than ten years and has provided loyal service to stakeholders during his tenure. During his tenure as President and CEO, the company’s net worth has grown significantly from $245 million to $663 million. Mr. Haasen will also step down from the Company’s Board of Directors effective July 17, 2023.

The Board of Directors also announces that effective July 17, 2023, Mr. John DeLucchi will assume the role of President and CEO of the Company. Mr. DeLucchi is the Chairman of the Board of Directors of the Company’s parent company, Madison Pacific Properties Inc. Mr. DeLucchi brings extensive experience to the role, including serving for the past three years as President and CEO of Madison Venture Corporation, the largest shareholder of Madison Pacific Properties Inc., and over 35 years with PwC.

While at PwC, Mr. DeLucchi served as Managing Partner of the BC Region from 2009 to 2017 and served as a member of PwC’s National Board of Directors from 2018 to 2020. He was also responsible for several clients in the real estate sector.

Mr. Haasen will continue with the Company through October 31, 2023, where he will work closely with Mr. DeLucchi and the Company’s management team to ensure an effective and smooth transition of his responsibilities to Mr. DeLucchi.

The Board of Directors would like to thank Mr. Haasen for his leadership, dedication and other significant contributions during his time with the Company and wish Mr. Haasen well as he embarks on this well-earned next phase in his life.