EANS-News: GSW Immobilien AG / Dr. Bernd Kottmann to become new head of GSW

Berlin (euro adhoc) -

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Board of Directors (Appointments and Changes)

Dr Bernd Kottmann to become new head of GSW

  • Long-time MDax chairman to manage GSW
  • GSW plans to use market momentum for long-term growth
  • Thomas Zinnöcker leaving GSW at his own request as announced

Berlin, 18 March 2013. Berliner residential property specialist GSW Immobilien AG is setting the course for long-term, dynamic company growth. To this end, it has appointed experienced real estate and MDax expert Dr Bernd Kottmann (55) as its new CEO effective 16 April 2013. In his career, Kottmann has handled a real estate transaction volume of more than EUR10 billion in numerous asset and share
deals. He has more than 25 years of experience as a Board of Management and Supervisory Board member for stock-listed real estate companies.

The current CEO, Thomas Zinnöcker, is leaving the company at his own request effective 15 April 2013 to explore new career ambitions. GSW had announced his intentions in an ad hoc press release dated 11 March 2013.

Both personnel measures were approved during an extraordinary meeting of GSW's Supervisory Board held today.

"In the last eight years, Mr Zinnöcker has transformed GSW from a municipal enterprise to a private equity holding company to a profitable MDax company with lean management. He has put together an experienced and professional management team that is well suited for the opportunities and challenges of the future even after his departure. The Supervisory Board sincerely thanks him for this", noted Supervisory Board Chairman Dr Eckart John von Freyend.

GSW will continue to follow its strategic course to growth under the new CEO. During his term as Board of Management member at IVG Immobilien AG, Kottmann served as a COO for the real estate business and as the CFO of an MDax company. There he was primarily in charge of establishing IVG's European real estate portfolio. He acquired and integrated two northern European stock-listed real estate companies into the IVG Group. He also took the lead in the successful acquisition of the cavern business from the Federal Republic of Germany.

Prior to that, he first served as member of the Board of Management at Harpener AG, Dortmund, in charge of socially responsible tenant privatisation for apartments and property development for new apartment construction. After Harpener AG he was managing director of Deutsche Babcock Bau GmbH, Oberhausen; at the same time he was the Board of Management member for Germania Epe AG, Gronau/Oberhausen. There, too, Kottmann was in charge of residential management matters for transactions, property development and new construction.

"With Dr Kottmann we are welcoming an experienced personality with capital market, portfolio, financing and residential market expertise. He is familiar with all phases of the real estate and capital markets, which is not common in Germany. He meets all of GSW's requirements for securing further corporate growth and independence", explained John von Freyend.

As CEO, Kottmann will develop GSW's future strategy alongside COO Jörg Schwagenscheidt and CFO Andreas Segal.

Contact

GSW Immobilien AG
Charlottenstrasse 4, 10969 Berlin, Germany

Press Investor Relations Thomas Rücker Sebastian Jacob E-mail: thomas.ruecker@gsw.de E-mail: sebastian.jacob@gsw.de Tel.: +49. (0) 30. 25 34-13 32 Tel.: +49. (0) 30. 25 34-1882 Fax: +49. (0) 30. 25 34-19 34 Fax: +49. (0) 30. 25 34 233-19 60 About GSW

With a portfolio of approximately 58,500 residential units, GSW Immobilien AG is one of the leading private residential property companies in Berlin. GSW's corporate strategy is focused on the long-term management of rental apartments, applying a systematic approach aimed at increasing both customer satisfaction and operating efficiency. As of 31 December 2011, the GSW property portfolio of approximately 53,000 residential units was valued at around EUR2.9 billion.

end of announcement euro adhoc

company: GSW Immobilien AG Charlottenstr. 4 D-10969 Berlin phone: +49 30 68 99 99 0 FAX: +49 30 68 99 99 999 mail: kundenservice@gsw.de WWW: http://www.gsw.de sector: Real Estate ISIN: DE000GSW1111 indexes: MDAX

stockmarkets: regulated dealing: Berlin, regulated dealing/prime standard:
Frankfurt
language: English

Digital press kit: http://www.ots.at/pressemappe/EASY_78650/aom

Rückfragen & Kontakt:

Sebastian Jacob
Tel.: +49 30 25 34- 18 82
E-Mail: sebastian.jacob@gsw.de

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