DGAP-News: Vonovia SE / Key word(s): Change of Personnel
06.03.2017 / 18:13
The issuer is solely responsible for the content of this announcement.
Vonovia Supervisory Board Extends Rolf Buch's Contract by a Further Five Years
- "Rolf Buch symbolizes Vonovia's dynamic development," said Chairman of the Supervisory Board Dr. Wulf H. Bernotat
- Successful track record since IPO in 2013
Bochum, March 6, 2017 - Rolf Buch will remain CEO of Vonovia SE for another five years. The Supervisory Board of Vonovia SE announced its decision to extend the CEO's contract after its meeting today. The contract, which was set to expire in February 2018, has been extended until February 2023.
"We are extremely satisfied with Vonovia's development. Rolf Buch has used his passionate entrepreneurial spirit to turn Vonovia into Germany's leading real estate company since its IPO. In his role as CEO, he has laid the right foundation for further dynamic growth and a successful future. We want to continue on this path with him," said Dr. Wulf H. Bernotat, Chairman of the Supervisory Board of Vonovia SE. "We are convinced that our customers, investors and employees will all benefit equally from the continuity that this decision provides."
Rolf Buch has been at Vonovia since April 2013. He stepped into the role of CEO aiming to boost customer satisfaction and expand the company's service business.
The decision to extend his contract confirms that this is the right approach. Rolf Buch has played a key role in shaping the company's development: He forged ahead successfully with the company's realignment and in 2015 was responsible for making it the first real estate company ever to achieve promotion to the DAX 30.
Before joining Vonovia (formerly known as Deutsche Annington), Buch was a member of the Management Board at Bertelsmann SE and Chairman of the Management Board at Arvato AG. He began his career at Bertelsmann in 1991 after studying mechanical engineering and business management at RWTH Aachen University. Buch is married with two children.
Vonovia SE is Germany's leading nationwide residential real estate company. Vonovia currently owns and manages around 397,000 residential units in all of Germany's attractive cities and regions. Its portfolio is worth approximately EUR 24 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 will also be creating more and more new apartments by realizing infill developments and adding on 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, MSCI Germany, GPR 250 and EPRA/NAREIT Europe. Vonovia has a workforce of approximately 7,100 employees.
Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange
Common code: 094567408
Registered headquarters of Vonovia SE: Düsseldorf, Germany; Düsseldorf Local Court, HRB 68115
Business address of Vonovia SE: Philippstrasse 3, 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 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 appropriate 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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