Corporate | 20 February 2014 12:22
DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Change of
Personnel
20.02.2014 / 12:22
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* BUWOG AG to have two-member Executive Board
* Management structure of operating subsidiaries in Germany and Austria
complete
The Supervisory Board of BUWOG AG has appointed Ronald Roos as Chief
Financial Officer (CFO). The Executive Board of BUWOG AG will now consist
of CEO Daniel Riedl and CFO Ronald Roos. Previously, the 46-year-old
financial expert Roos was CFO of the German aurelis, which is active
throughout the country in land development and the rental of commercial
space, he also served as CFO of Swiss Life Deutschland and as
reorganisation manager for a shipping company in Northern Germany.
Roos' appointment completes the management of BUWOG's operating
subsidiaries in Austria and Germany. Also joining the management team will
be Herwig Teufelsdorfer, who joins BUWOG GmbH (Austria) on 01 March 2014
from IVG Austria where he was a member of the management board.
Teufelsdorfer will be responsible for standing investments in Austria. With
the integration of the residential property platform taken over in
connection with the purchase of the DGAG portfolio, the management team
will also be strengthened by Andreas Engelhardt. Engelhardt is a former
member of the management board of German Prelios. The Executive Board of
BUWOG GmbH will therefore consist of Daniel Riedl, Ronald Roos, Andreas
Holler (property development in Austria), Andreas Ratzinger (accounting and
finance), Herwig Teufelsdorfer (standing investments in Austria) and
Andreas Engelhardt (standing investments in Germany).
Alexander Happ will continue to direct the Berlin subsidiary BUWOG
Meermann, which covers real estate development in Germany.
'The completion of the management team places BUWOG in a good position to
successfully integrate its latest major acquisition, to pursue further
expansion and to independently position the company on the capital market',
commented Vitus Eckert, chairman of the BUWOG Supervisory Board.
BUWOG, a wholly owned subsidiary of IMMOFINANZ Group, is to be spun off, as
previously reported, through the separation of 51% of share capital to the
shareholders of IMMOFINANZ AG. The BUWOG shares will also be registered for
trading on the stock exchanges in Frankfurt, Vienna and Warsaw. The
implementation of these plans is contingent on the approval of at least
three-fourths of the shareholders at the extraordinary general meeting of
IMMOFINANZ AG on 14 March 2014.
On BUWOG Group:
The BUWOG Group, the leading Austrian full-service provider in the
residential property sector, can look back on wide-ranging experience that
covers nearly 60 years. The company also became one of the most important
players on the German market with a major acquisition in Germany that was
announced in February 2014. The BUWOG Group has a high-quality portfolio
with approx. 54,000 apartments (roughly one-half each in Austria and
Germany). Through its development activities, BUWOG Group has been
responsible for the construction of more than 35,000 apartments to date.
With a new construction volume of roughly 700 apartments per year in the
greater Vienna area, the BUWOG Group is one of the most active contractors
and real estate developers in Austria.
BUWOG also entered the new residential construction market in Germany with
the acquisition of a well-known Berlin development company in 2012 and is
currently working on a project pipeline of roughly 1,600 apartments.
For additional information please contact:
MEDIA INQUIRIES
Bettina Schragl
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ Group
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications@immofinanz.com
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance & Investor Relations
IMMOFINANZ Group
T +43 (0)1 88 090 2312
M +43 (0)699 1685 7312
investor@immofinanz.com
End of Corporate News
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 (0) 1 88090 - 8291
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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253464 20.02.2014