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Vonovia SE: Klaus Freiberg to leave Management Board of Vonovia SE at his own request - Arnd Fittkau to be appointed to Management Board (news with additional features)

DGAP-News: Vonovia SE / Key word(s): Personnel

06.05.2019 / 15:44
The issuer is solely responsible for the content of this announcement.


Klaus Freiberg to leave Management Board of Vonovia SE at his own request - Arnd Fittkau to be appointed to Management Board

Bochum, May 6, 2019 - Klaus Freiberg (57) has made the decision to leave the Management Board of Vonovia with effect from the end of the Annual General Meeting on May 16, 2019. Arnd Fittkau (46), currently chief representative responsible for Vonovia's Rental segment, will be appointed to the Management Board at the same time. The Value-add Business segment that bundles Vonovia's services and has been managed by Klaus Freiberg over and above his responsibility for the Rental segment will fall under the sphere of responsibility of Rolf Buch, Chief Executive Officer of Vonovia, in the future, with the new chief representative Konstantina Kanellopoulos assuming operational responsibility for the segment. Klaus Freiberg will continue to support Vonovia as a consultant even after leaving the Management Board.

"Klaus Freiberg has played a key role in Vonovia's success story. After being appointed to the Management Board back in 2010, he focused on the in-house provision of services for Vonovia's customers, showing considerable entrepreneurial skill and strategic vision in the process. In his time at the company, the total number of employees grew to around 10,000. Today, more than 390,000 apartments across Germany are managed under his auspices. On behalf of the entire Supervisory Board, I would like to thank Klaus Freiberg for his exceptional performance and, on a personal note, I wish him all the very best in the future," said Jürgen Fitschen, Chairman of the Supervisory Board of Vonovia SE.

"Arnd Fittkau, who is being appointed to Vonovia's Management Board, is a very well versed manager who has gleaned years of experience in the housing industry and has proven both his leadership skills and his customer centricity. His appointment means that we will be filling the position internally. I am delighted that Arnd Fittkau has decided to accept his appointment to the Management Board and wish him every success and the very best of luck in the future," continued Jürgen Fitschen.

Rolf Buch, CEO of Vonovia SE: "Klaus Freiberg is directly associated with key strategic moves toward the company's customer-oriented focus. He used his considerable personal commitment, his flair for picking up on social trends and his enterprising initiative to prepare our company to rise to the challenges posed by the residential property market. On a personal note, I would like to thank him most sincerely for an excellent working relationship and for his willingness to continue to provide us with his advice in the future."

"In his role as chief representative at Vonovia, Arnd Fittkau has achieved the successful further development of the nationwide property management business in recent years. I am delighted that Vonovia's Supervisory Board has appointed him to the Management Board as he is a team player with a keen awareness of tenants' interests. One of his main duties will be to expand the company's presence at our properties further and forge even closer relationships with our customers and local policymakers. I look forward to continuing to work with him and wish him every success in the future," continued Rolf Buch.

As Chief Operating Officer, Klaus Freiberg is responsible for product management, IT, customer service, residential environment, technical service, engineering and the local rental business in the various regions (north, south, southeast, east, central, west). He held various leadership positions within the Arvato Group (Bertelsmann) in the period between 1995 and 2010, where he assumed responsibility for, and worked on the optimization of, the Service Centers of Deutsche Post and Deutsche Telekom, among other things. Klaus Freiberg is a recognized expert in making companies customer-focused. Klaus Freiberg completed his degree in history, social sciences and economics at the Westfälische Wilhelms University of Münster in 1990.

Arnd Fittkau first joined Vonovia, as it is now called, in 2002, when he took over as Head of Investment Controlling. In 2005, he moved to the GAGFAH Group to assume the role of Head of Controlling for a period of three years. He has now been a managing director at the Vonovia Group since 2008. Since then, Arnd Fittkau has held several managing directorships at various predecessor companies/subsidiaries of the Vonovia Group in Bochum, Munich, Frankfurt and Gelsenkirchen.

He has held the position of managing director of the West business area of Vonovia Immobilienservice GmbH since 2014. Since the beginning of March 2018, Arnd Fittkau has also held the position of chief representative of Vonovia SE and chairs the regional management teams. He boasts extensive and in-depth knowledge of the real estate sector and has access to an extensive network within the field of politics and business.

Following the appointment of Arnd Fittkau to the Management Board with responsibility for the Rental segment, the Management Board of Vonovia SE will in the future comprise Rolf Buch, CEO, Helene von Roeder, CFO, Arnd Fittkau, Rental, and Daniel Riedl, Management Board member responsible for the Development segment. The Value-add business and Sales segment will fall under CEO Rolf Buch's sphere of responsibility in the future; Konstantina Kanellopoulos, who will be responsible for the operational management of the service business in her capacity as chief representative, will report directly to Rolf Buch.

About Vonovia

Vonovia SE is Europe's leading private residential real estate company. Vonovia currently owns around 396,000 residential units in all attractive cities and regions in Germany, Austria and Sweden. It also manages around 84,000 apartments. Its portfolio is worth approximately EUR 44.2 billion. As a modern service company, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants affordable, attractive and livable homes is a prerequisite for the company's successful development. Accordingly, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The company is also creating more and more new apartments by realizing infill developments and adding to existing buildings.

The company, which is based in Bochum, has been listed on the stock exchange since 2013 and on the DAX 30 since September 2015. Vonovia SE is also listed on the international indices STOXX Europe 600, MSCI Germany, GPR 250 and EPRA/NAREIT Europe. Vonovia has a workforce of approximately 10,000 employees.

Additional Information:
Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange
Common code: 094567408
Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879
Business address of Vonovia SE: Universitätsstrasse 133, 44803 Bochum, Germany

This press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.

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Document title: Klaus Freiberg to leave Management Board of Vonovia SE at his own request - Arnd Fittkau to be appointed to Management Board

06.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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