Management board and supervisory board

Eyal Keltsh

President of the Management Board of ROBYG S.A.

An accomplished manager with over 25 years of experience in the real estate development market in Central and Eastern Europe. He has served on the Management Board of ROBYG S.A. since May 2009, and in 2022 assumed the role of President of the Management Board (CEO) of the ROBYG Group and Vantage Development – as part of building synergies within the TAG Immobilien Group. He previously served as director of several companies within the Kardan Investment group between 1994 and 2008, and as director of Nanette Real Estate Group from 2000.

He is a graduate of the Faculty of Economics and Accounting at the University of Haifa.

Artur Ceglarz

Vice-President of the Management Board of ROBYG S.A.

He has extensive, long-standing managerial and analytical experience. He has been continuously associated with the ROBYG group since 2002, initially serving as Member of the Management Board for Finance at ROBYG Development, and between 2007 and 2019 holding the position of Vice President of the Management Board for Finance (CFO). Since 2019, he has served as Vice President of the Management Board responsible for Business Development at ROBYG S.A. Previously, between 1998 and 2007, he worked as Project Finance Manager at PROKOM INVESTMENT/PROKOM SOFTWARE, having begun his professional career in 1996 as a consultant at BUSINESS CONSULTANTS.

He holds a strong academic background as a graduate of the Faculty of Management and Economics at the Gdańsk University of Technology, with a specialisation in finance (1991–1996), and of the Faculty of Management at the University of Gdańsk in Econometrics and Statistics (1993–1999). His market competencies are confirmed by prestigious industry certifications: Financial Risk Manager (FRM) and Chartered Financial Analyst (CFA).

Marta Hejak

Vice-President of the Management Board of ROBYG S.A.

She has many years of experience in corporate financial management and audit. She has been associated with ROBYG S.A. since 2015, initially serving as Head of the Reporting and Consolidation Department and Deputy Chief Financial Officer, before being promoted in 2021 to Chief Financial Officer, and subsequently to Vice President of the Management Board. In addition, since 2022 she has held analogous positions (Vice President of the Management Board and Chief Financial Officer) at Vantage Development S.A. Her career in the real estate development sector was preceded by more than a decade (2004–2015) in the Audit and Business Advisory department of Ernst & Young, where she rose to the position of Senior Manager.

She is a graduate of the SGH Warsaw School of Economics, with a degree in Finance and Banking (specialisation: Accounting and Finance), and her professional qualifications are confirmed by her Polish certified auditor licence (registration no. 11957).

Dariusz Pawlukowicz

Vice-President of the Management Board of ROBYG S.A.

An experienced manager and expert in finance and accounting. Since October 2025, he has held the position of Vice President of the Management Board at ROBYG S.A. In parallel, since February 2009, he has been closely associated with the developer Vantage Development S.A., where he began as Director for Economic and Administrative Affairs, joined the Management Board in 2011, and assumed the role of Vice President of the Management Board in October 2022. His earlier professional experience includes serving as Chief Accountant within the Impel group (2006–2010) and as Head of the Accounting Office at PKF Consult in Wrocław (2003–2006).

He has a broad academic background – he is a graduate of the Executive MBA programme delivered by the International Management Centre of the University of Warsaw in cooperation with the University of Illinois at Urbana-Champaign (2015–2016), as well as of the Faculty of Finance and Banking at the Wrocław University of Economics, with a specialisation in Accounting and Auditing (1998–2003). His competencies in financial oversight are confirmed by his Polish certified auditor licence (registration no. 11 431).

Oscar Kazanelson

Chairman of the Supervisory Board of ROBYG S.A.

A manager and expert with over 40 years of experience in the real estate development market in Israel and the countries of Central and Eastern Europe.

Between 1992 and 2012, he was associated with Olimpia Real Estate and Olimpia Holding Ltd. – a publicly listed company engaged in real estate development in Israel and Central and Eastern Europe. During this period, Olimpia built and delivered several thousand residential units and over 100,000 sqm of retail and office space. As a shareholder, Managing Director and subsequently Chairman of the Supervisory Board, Oscar Kazanelson was responsible for the full scope of investment activities – development, marketing, sales, construction and financing.

In 2000, he founded Nanette Group – a company listed on London’s AIM market since 2006, where he served as President of the Management Board. Nanette Group was one of the main shareholders of the ROBYG Group until 2015. He has served as Chairman of the Supervisory Board of ROBYG S.A. since 17 October 2007, and as Chairman of the Supervisory Board of Vantage Development S.A. since January 2023.

Graduate of the Givaataim School of Engineering in Israel.

Martin Thiel

Vice-Chairman of the Supervisory Board of ROBYG S.A.

Martin Thiel is the Chief Financial Officer and Co-CEO of TAG Immobilien AG, headquartered in Hamburg, Germany. Following the completion of his business studies, and prior to joining TAG Immobilien AG, Martin Thiel worked for over 15 years as a German and US Certified Public Accountant and a German certified tax adviser.

Claudia Hoyer

Member of the Supervisory Board of ROBYG S.A.

Claudia Hoyer is the Chief Operating Officer and Co-CEO of TAG Immobilien AG, headquartered in Hamburg, Germany. Claudia Hoyer worked for more than a decade in a range of real estate-related positions, both at Deutsche Kreditbank AG and DKB Immobilien AG, before joining TAG Immobilien AG. She completed business studies and subsequently obtained a degree as a real estate economist at the European Business School.

Dr. Harboe Vaagt

Member of the Supervisory Board of ROBYG S.A.

Retired Member of the Management Board and General Counsel of TAG Immobilien AG until 31 December 2021 (responsible for human resources, legal affairs, judicial enforcement of rent claims, IT, compliance, internal audit, and residential property management). After completing his legal studies, he worked as an attorney (1986–1990), and as legal counsel and Head of the Legal Department at Hypothekenbank in Hamburg (1990–1999). In 1999, he joined TAG Immobilien AG as legal counsel, and was shortly thereafter promoted to Head of the Legal Department.

Radosław Biedecki

Member of the Supervisory Board of ROBYG S.A.

Attorney-at-law (radca prawny) and senior counsel at the law firm DWF Poland Jamka sp. k. An expert with over 30 years of experience in Polish and international law in the real estate and transactional sectors.

He is a graduate of the Faculty of Law at the Robert Schuman University in Strasbourg (France) and at the University of Warsaw. He has also completed a course in English and European law jointly delivered by the University of Warsaw and the University of Cambridge.

Przemysław Kurczewski

Member of the Supervisory Board of ROBYG S.A.

An experienced expert specialising in the management of strategic business projects, particularly in the area of new technologies. He has served on the Supervisory Board of Vantage Development S.A. since May 2022. Between 2019 and 2022, he held the position of Deputy Director of the National Centre for Research and Development (NCBR), overseeing innovative R&D financing instruments as well as security and defence projects, having previously worked at the same institution as an auditor. His extensive managerial experience includes, among other roles, a long-standing tenure as President of the Management Board of Emitel S.A., where he successfully led the launch of digital terrestrial television in Poland, as well as work at Telekomunikacja Polska S.A., where he was responsible for regulatory relations and wholesale strategy.

He also analysed complex legal and organisational issues during his work at leading advisory firms: PricewaterhouseCoopers, Wierzbowski i Wspólnicy law firm, and Coopers & Lybrand. He is a graduate of the Faculty of Economics and Law at the University of Maryland in the USA, and holds an MBA from the Warsaw University of Technology. His outstanding market achievements have been recognised with numerous distinctions, including the Private Equity Diamonds award and the Golden and Crystal Antenna in the Manager of the Year and Company of the Year categories.