RioCan Real Estate Investment Trust (RioCan) recently appointed Raghunath Davloor as new president and chief operating officer.

Davloor, who joined RioCan in 2008 with a proficient background in real estate, will continue to assume the role of interim chief financial officer until the company finds a suitable replacement.

“In addition to the financial acumen that he brought to our team, as would be expected of a chief financial officer, Rags brings a high level experience in the operational aspects of commercial real estate, a sophisticated knowledge of capital markets and strategic thinking that has made an indelible mark on our executive group,” said Edward Sonshine, chief executive officer of RioCan. “I am very confident in Rags’ abilities to lead our operations as we head into this next phase of growth at RioCan.”

Davloor will replace Fred Waks—former president and chief operations officer who will remain an advisor until his resignation in January 2015.