Luštica Development CEO Darren Gibson Not Extending His Mandate

By , 11 Aug 2020, 18:43 PM Business
Luštica Development CEO Darren Gibson Not Extending His Mandate Darren Gibson, Source: Luštica Development
August 11, 2020 - The Executive Director of Luštica Development Tivat, Darren Gibson, announced that he would not extend his mandate after it expires on October 3 this year.
He informed the company and associates that he would end his role as the company's Executive Director after the expiry of the current mandate on October 3, stating that 2020 was especially challenging both professionally and personally.
"After careful consideration and discussion with my family, I have decided to step down and not extend my term once again. I believe now is the right time to bring fresh energy to the organization to take the Lustica Bay project to the next stages of development. It continues the transition into a fully operational destination. It was undoubtedly the greatest privilege of my professional career - to lead the Lustica Bay project for the last six years; to watch it grow from a newborn to an emerging gem as it is today. I will be eternally grateful to Orascom for giving me this opportunity. I hope that in a small way, I have contributed to creating the foundation for one of the most desirable European destinations in the coming years. I was also honored to work with such a dedicated and passionate group of professionals who are, without a doubt, the main reason that Luštica Bay has established itself as a leading destination in Montenegro in recent years," said Gibson.
In a company statement, an Orascom spokesman said: "We highly appreciate the very demanding work that Darren has done at the company in the last six years. He played an integral role in the growth of Lustica Bay. We sincerely thank him for his contribution and leadership during his tenure as CEO of Luštica Bay. We wish him the best of luck in all future endeavors. "
In the six years under his leadership, the first phase of project development was implemented. Marina settlement was built with more than 260 residential properties sold and more than 300 completed, alongside a marina with 176 berths, a shopping area, and the first hotel in the complex - The Chedi, which has become synonymous with a luxurious Mediterranean getaway. More than 243 million euros have been invested in the project, of which about 200 during Gibson's tenure.
The official opening in August 2018 was rated as the best regional event with more than 1,600 guests, including journalists from 30 global and 20 national outlets and media from the region.
Gibson will be temporarily succeeded by Maher Maksoud, who is currently leading the UK-based Orascom Eco-Bos project and whose regional office has overseen the Lustica Bay project since January 2020.

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