CFO Stefan Schönauer and COO Dietmar Reindl. Credit: IMMOFINANZ

IMMOFINANZ AG: Changes in the Executive Board

After the completion of the mandatory takeover offer of CPI Property Group on IMMOFINANZ, today the Supervisory Board and the members of the Executive Board Dietmar Reindl and Stefan Schönauer mutually agreed in relation to the Change of Control Event, that their contract as board members shall end on the 8th of June 2022. Dietmar Reindl and Stefan Schönauer will continue to work for the Company as advisors to the Executive and Supervisory Board until 31st of December 2022.

Radka Doehring was appointed as an Executive Board member in April 2022 and takes over the agendas from Dietmar Reindl and Stefan Schönauer. They will continue to support her in her new role and future projects.

Dietmar Reindl has held key management positions with IMMOFINANZ since 2012 and was appointed to the Executive Board in May 2014. Stefan Schönauer has been with IMMOFINANZ in leading positions since 2008 and was appointed CFO in March 2016.

“We thank Dietmar and Stefan for their important role in repositioning IMMOFINANZ as a successful commercial real estate player in its markets. Their passion and efforts made IMMOFINANZ become a very innovative, profitable and also crisis resilient Company in these challenging times”, said Miroslava Grestiakova, Chairwoman of the IMMOFINANZ Supervisory Board.

Martin Nemecek, Vice Chairman of the IMMOFINANZ Supervisory Board and CEO of CPI Property Group added: “Dietmar and Stefan in their role as Executive Board Members, together with their passionate employees, formed an outstanding real estate company. This great success attracted CPI Property Group and we are proud to become the major shareholder of IMMOFINANZ. I would like to thank Dietmar and Stefan that they will be advising the Company and continue to contribute with their experience in future projects.”

“Creating the new IMMOFINANZ by realizing real estate solutions for our clients throughout Europe was the driver of success during the last years. Today we are specialized in creating and operating real estate brands for the benefit of our stakeholders. Being market leader for retail parks in Europe and frontrunner for flexible serviced office solutions are part of the success story achieved by a highly professional team of real estate experts and forms the new IMMOFINANZ”, said Dietmar Reindl.

Stefan Schönauer added: “After more than six very exciting and sometimes also challenging years as an Executive Board Member at IMMOFINANZ I would like to thank especially our great IMMOFINANZ team for their hard work and all their efforts. It was my pleasure to work with all of you and I wish you lots of success and all the best for the future. Together we have transformed IMMOFINANZ into a very profitable Company by reducing structural complexity and solving many legacy issues from the past. I am proud to hand over our Company holding a stable investment grade rating from S&P, a very strong balance sheet with low indebtedness and an over the last years continuously growing FFO. Thank you to all stakeholders and business partners for their support in achieving these goals over the recent years. Finally I trust, that with CPI Property Group IMMOFINANZ now has got a long term major shareholder leading the Company into a stable and successful future.”

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