DGAP-News: Vonovia SE / Key word(s): Change of Personnel
04.08.2017 / 10:02
The issuer is solely responsible for the content of this announcement.
Gerald Klinck to Leave the Management Board of Vonovia in May 2018
Bochum, Germany, August 4, 2017 - Gerald Klinck (48) has decided not to seek an extension of his contract and to leave the Management Board of Vonovia when his current contract expires (May 2018) in order to take up new business challenges. In the meantime, he will remain responsible for the Management Board functions that he currently oversees as Chief Controlling Officer. Gerald Klinck will continue to maintain a relationship with the company following his retirement from the Management Board.
Dr. Wulf Bernotat, Chairman of the Supervisory Board of Vonovia SE, comments, "The Supervisory Board respects Gerald Klinck's decision to leave Vonovia's Management Board at the end of his current contract. I would like to sincerely thank him for his successful work at Vonovia and wish him all the best in his professional and personal future. The Supervisory Board will discuss and determine the impact this will have on the Management Board's future activities in due course."
Rolf Buch, CEO of Vonovia, remarks, "I greatly regret Gerald Klinck's decision to leave the Management Board. However, at the same time I am pleased that he will maintain a relationship with our company. I would like to warmly thank him for his excellent service and for our positive working relationship. I wish him all the very best for his private future and every success in his future career."
Gerald Klinck studied business administration and began his career in the real estate sector at HSH Nordbank in 1997. In 2006, he assumed responsibility for corporate management and planning at Gehag before joining Deutsche Wohnen and taking a seat on its Executive Board in 2009. In the period from 2011 up to the company's merger with Deutsche Annington in 2015, Gerald Klinck worked at GAGFAH SE and was responsible for its commercial operations as CFO from 2012 onwards. Following the merger of the two companies, Gerald Klinck was appointed to the Management Board of Vonovia as Chief Controlling Officer. He enhanced the areas of controlling, portfolio management/valuation and Immobilien Treuhand, and also established and professionalized a central procurement system.
Vonovia SE is Germany's leading nationwide residential real estate company. Vonovia currently owns and manages around 355,000 residential units in all of Germany's attractive cities and regions. Its portfolio is worth approximately EUR 30.8 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 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 8,300 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, 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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