Announcement

TAG real-estate group announces CFO changeover

TAG real-estate group announces CFO changeover


TAG Immobilien AG / Key word(s): Change of Personnel

25.04.2012 / 09:00


PRESS RELEASE

TAG real-estate group announces CFO changeover

- Hans-Ulrich Sutter steps down from CFO positions with effect from 30 Apr and 30 Jun 2012

- Supervisory Board appoints Georg Griesemann as new Chief Financial Officer

(Hamburg, 25. April 2012) Mr Hans-Ulrich Sutter will resign his position as Chief Financial Officer of Bau-Verein zu Hamburg AG and Colonia Real Estate AG with effect from 30 April 2012. Mr Sutter will also retire from his duties on the TAG Immobilien AG Board with effect from 30 June 2012.

Since 1 April 2008, Mr Sutter has held a dual mandate as Chief Financial Officer of TAG and of Bau-Verein. Since February 2011, he also served as CFO of Colonia. Mr Sutter will continue to maintain close ties to the Group through his supervisory board mandates: he will continue to sit on the DKB Immobilien AG supervisory board and will run for election to the supervisory board of Colonia at the Annual General Meeting this June.

The Supervisory Board has appointed Mr Georg Griesemann as the companies' new Chief Financial Officer in his stead. Mr Griesemann will assume the position of CFO at Bau-Verein and Colonia as of 1 May 2012, and from 1 July 2012 will also hold this function at Group level for TAG Immobilien AG. In parallel to this, Mr Griesemann has served as Chief Financial Officer of DKB Immobilien AG since March 2012.

Thanks to his more than ten years as an auditor and tax consultant, Georg Griesemann has excellent experience in the financial sector. He has already been in charge of accounting and taxes at TAG Group since June 2011.

CEO Rolf Elgeti says: 'Over the past three years, we have worked together to set TAG Immobilien AG on a successful expansionist course. For this I would personally like to thank my fellow Board member Mr Sutter, who did an outstanding job and made a vital contribution to this development. I am very pleased that we will be able to count on his expertise and many years of experience in the future as well. At the same time I congratulate Mr Griesemann on his appointment as Chief Financial Officer of TAG. I look forward to our shared tasks and responsibility in the Group.'

Press enquiries:
TAG Immobilien AG
Investor & Public Relations
Britta Lackenbauer / Dominique Mann
Phone +49 40 380 32 0
Fax +49 40 380 32 390
pr@tag-ag.com



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Language: English
Company: TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Germany
Phone: 040 380 32 0
Fax: 040 380 32 390
E-mail: ir@tag-ag.com
Internet: www.tag-ag.com
ISIN: DE0008303504
WKN: 830350
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart
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End of News DGAP News-Service

166450  25.04.2012