DGAP-News: KWG Kommunale Wohnen AG: Expected Change in Management Board
(firmenpresse) - DGAP-News: KWG Kommunale Wohnen AG / Key word(s): Real Estate/Change
of Personnel
KWG Kommunale Wohnen AG: Expected Change in Management Board
19.02.2013 / 08:00
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Hamburg, 19 February 2013 - KWG Kommunale Wohnen AG, the long-term oriented
property holding company of German residential real estate, announces that
today Stavros Efremidis leaves the Management Board of KWG as expected. It
is planned that Torsten P. Hoffmann will lead the company as its sole
management board member going forward. As previously announced Mr.
Efremidis will change to the Executive Board of conwert Immobilien Invest
SE and will be responsible for the development of conwert's operating
business in Germany. conwert acquired a stake of approx. 60% in KWG in
December last year.
The Supervisory Board of KWG expresses its gratitude towards Mr. Efremidis
for his outstanding achievements during his course of leadership in terms
of portfolio size, profitability and market positioning of KWG. Torsten P.
Hoffmann, sole management board member: 'I will stay on the strategic
course in order to continue the KWG's profitable development.' Mr. Hoffmann
has been CFO of KWG since 2010.
About KWG AG
KWG Kommunale Wohnen AG is a long-term oriented owner and operator of
German residential real estate units. The company acquires residential real
estate portfolios at attractive conditions in promising micro-locations of
metropolitan regions and German regional centres and sustainably increases
their value through an active real estate asset management. By
refurbishments to high energy efficiency standards incidental costs for
tenants are being lowered. KWG covers the complete value chain from
acquisitions to construction management and its own internal property
management. As a result vacancies are being reduced and income from net
cold rent is being increased. This leads to value enhancements of the
properties, above average Returns on Equity and profitability. KWG's shares
are listed in the Entry Standard of the Frankfurt Stock Exchange.
Contact
KWG Kommunale Wohnen AG
Jan Hutterer
Head of IR/PR
Alstertor 9
20095 Hamburg
Germany
Tel.: +49/ 40/ 2263088-100
eMail: ir(at)kwg-ag.de
www.kwg-ag.de
End of Corporate News
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Language: English
Company: KWG Kommunale Wohnen AG
Alstertor 9
20095 Hamburg
Germany
Phone: 040 22 63 088 100
Fax: 040 22 63 088 200
E-mail: ir(at)kwg-ag.de
Internet: www.kwg-ag.de
ISIN: DE0005227342WKN: 522734
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart; Open Market (Entry Standard) in
Frankfurt
End of News DGAP News-Service
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201725 19.02.2013
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Datum: 19.02.2013 - 08:00 Uhr
Sprache: Deutsch
News-ID 230499
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