• 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.