DGAP-News: GAGFAH S.A.: GAGFAH Announces Changes to Management Board
(firmenpresse) - DGAP-News: GAGFAH S.A. / Key word(s): Change of Personnel
GAGFAH S.A.: GAGFAH Announces Changes to Management Board
28.03.2012 / 18:44
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Press release: March 28, 2012
GAGFAH S.A.
2-4, rue Beck
L-1222 Luxembourg
ISIN: LU0269583422/WKN: A0LBDT
Frankfurt Stock Exchange, Regulated Market (Prime Standard)
GAGFAH Announces Changes to Management Board
Luxembourg, March 28, 2012. Today the Board of GAGFAH S.A. (LU0269583422)
resolved on changes to the Management Board of the GAGFAH Group.
GAGFAH S.A. is pleased to announce the approval of the appointment of CFO
Stephen Charlton (54) as GAGFAH Group's new Chief Executive Officer (CEO).
Stephen Charlton was appointed CFO in January 2011 and is based in Mülheim.
Prior to joining GAGFAH he held CFO positions within the real estate and
financial services sectors. As CEO, he will be responsible for managing
GAGFAH's German operating subsidiaries.
It is intended that he will also be appointed as a member of the board of
GAGFAH S.A.
Treasurer Gerald Klinck (42), who joined Gagfah in 2011 from Deutsche
Wohnen, will be appointed interim Chief Financial Officer. It has been
mutually agreed that William J. Brennan, CEO, will leave the company.
Robert Kauffman, Chairman of the Board: 'The Board thanks William Brennan
for his contributions to the GAGFAH Group over the past three years,
including the resolution of the dispute with the City of Dresden, and
wishes him well in his future endeavours. With the company's strong focus
on refinancing its debt maturities, we believe that Stephen Charlton is the
right CEO to move the business forward.'
Stephen Charlton, appointed CEO: 'I am very much looking forward to serving
GAGFAH as CEO. In my view, the company has a strong operating business, an
attractive asset portfolio and excellent long-term prospects. Refinancing
our debt remains key priority for the business. We will remain committed to
investing further in our apartments, continuing to expand our dialogue with
shareholders and other stakeholders, and striving to meet our customers'
expectations.'
About GAGFAH S.A.
GAGFAH S.A. is a joint stock corporation organized under the laws of the
Grand Duchy of Luxembourg qualifying as a securitization company under the
Luxembourg Securitization Law of March 22, 2004. The core business of
GAGFAH S.A.'s operating subsidiaries is the ownership and management of a
geographically diversified and well maintained residential property
portfolio located throughout Germany. With a portfolio of almost 150,000
apartments, GAGFAH is the largest residential property company listed in
Germany.
Contact:
Gagfah M Immobilienmanagament GmbH
Dirk T. Schmitt, Head of Communications
Tel. +49 170 302 8833, dschmitt(at)gagfah.de
Bettina Benner, Press Officer
Tel. +49 172 206 0336, bbenner(at)gagfah.de
Rene Hoffmann
Head of Investor Relations
GAGFAH S.A.
Tel. +352 266 366 21, rhoffmann(at)gagfah.com
End of Corporate News
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28.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: GAGFAH S.A.
2-4, rue Beck
1222 Luxemburg
Grand Duchy of Luxembourg
Phone: + 352 266 366 1
Fax: + 352 266 366 01
E-mail: info(at)gagfah.com
Internet: www.gagfah.com
ISIN: LU0269583422, LU0269583422
WKN: A0LBDT
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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162844 28.03.2012
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Datum: 28.03.2012 - 18:44 Uhr
Sprache: Deutsch
News-ID 129557
Anzahl Zeichen: 5866
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Kategorie:
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