IMMOFINANZ AG: Changes in the Executive Board
After the successful completion of the mandatory takeover offer of CPI Property Group on IMMOFINANZ the Supervisory Board and the members of the Executive Board Dietmar Reindl and Stefan Schönauer mutually agreed today in relation to the Change of Control Event, that their contract as board members shall end at 08th of June 2022. Dietmar Reindl and Stefan Schönauer will continue to work for the Company as advisors to the Executive and Supervisory Board until 31st of December 2022.
Radka Doehring was appointed as an Executive Board member in April 2022 and takes over the agendas from Dietmar Reindl and Stefan Schönauer. They will continue to support her in her new role and future projects.
Dietmar Reindl has held key management positions with IMMOFINANZ since 2012 and was appointed to the Executive Board in May 2014. Stefan Schönauer has been with IMMOFINANZ in leading positions since 2008 and was appointed CFO in March 2016.
Miroslava Grestiakova, Chairwoman of the IMMOFINANZ Supervisory Board:
“We thank Dietmar and Stefan for their important role in repositioning IMMOFINANZ as a successful commercial real estate player in its markets. Their passion and efforts made IMMOFINANZ become a very innovative, profitable and also crisis resilient Company in these challenging times.”
Martin Nemecek, Vice Chairman of the IMMOFINANZ Supervisory Board and CEO of CPI Property Group:
“Dietmar and Stefan in their role as Executive Board Members, together with their passionate employees, formed an outstanding real estate company. This great success attracted CPI Property Group and we are proud to become the major shareholder of IMMOFINANZ. I would like to thank Dietmar and Stefan that they will be advising the Company and continue to contribute with their experience in future projects.”
“Creating the new IMMOFINANZ by realizing real estate solutions for our clients throughout Europe was the driver of success during the last years. Today we are specialized in creating and operating real estate brands for the benefit of our stakeholders. Being market leader for retail parks in Europe and frontrunner for flexible serviced office solutions are part of the success story achieved by a highly professional team of real estate experts and forms the “new IMMOFINANZ”. I am grateful to all stakeholders who supported IMMOFINANZ and me on this journey. Now being part of an even larger real estate group opens new opportunities that I am sure will be realized and create the leading real estate company in CEE if not in Europe!”
“After more than six very exciting and sometimes also challenging years as an Executive Board Member at IMMOFINANZ I would like to thank especially our great IMMOFINANZ team for their hard work and all their efforts. It was my pleasure to work with all of you and I wish you lots of success and all the best for the future. Together we have transformed IMMOFINANZ into a very profitable Company by reducing structural complexity and solving many legacy issues from the past. I am proud to hand over our Company holding a stable investment grade rating from S&P, a very strong balance sheet with low indebtedness and an over the last years continuously growing FFO. Thank you to all stakeholders and business partners for their support in achieving these goals over the recent years. Finally I trust, that with CPI Property Group IMMOFINANZ now has got a long term major shareholder leading the Company into a stable and successful future.”
IMMOFINANZ is a commercial real estate group whose activities are focused on the office and retail segments of eight core markets in Europe: Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and the Adriatic region. The core business covers the management and development of properties, whereby the STOP SHOP (retail), VIVO! (retail) and myhive (office) brands represent strong focal points that stand for quality and service. With the new On Top Living brand, IMMOFINANZ is expanding into sustainable and affordable living. The real estate portfolio has a value of approximately EUR 5.2 billion and covers more than 220 properties. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under: https://www.immofinanz.com
For additional information contact:
Head of Corporate Communications and Investor Relations
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
1100 Vienna, Wienerbergstraße 9, Austria
08-Jun-2022 CET/CEST News transmitted by EQS Group AG. www.eqs.com