By Ed Frankl
Deutsche Wohnen SE said Sunday it has appointed new co-chief executives and a new head of its supervisory board, as it consolidates its takeover by Vonovia SE.
The German real-estate company said it appointed Konstantina Kanellopoulos and Lars Urbansky as co-CEOs, effective Jan. 1.
Philip Grosse will remain as chief financial officer until March 31, when Olaf Weber will take over, Deutsche Wohnen said. Mr. Grosse was previously appointed Vonovia's CFO as of Jan. 1.
Ms. Kanellopoulos and Mr. Weber move from Vonovia, while Mr. Urbansky was previously chief operating officer at Deutsche Wohnen.
"The company has established an excellent position in important markets, which we will build on in the coming years," Ms. Kanellopoulos said.
The Berlin-based company said it elected Helene von Roeder as chairwoman of its supervisory board, alongside promoting Florian Stetter to deputy chairman.
Deutsche Wohnen's previous CEO Michael Zahn, who led the company since 2008, said in December he would leave at the end of 2021 after deciding not to accept appointment to Vonovia's management board.
Vonovia holds a stake of around 87% in Deutsche Wohnen, the latter company said, after a successful EUR53 a share takeover of its former rival in the autumn. The result is one of Europe's largest residential real-estate groups.
Write to Ed Frankl at email@example.com
(END) Dow Jones Newswires