ADO Properties S.A.: New senior management to be appointed
June 13, 2019 at 04:45 pm EDT
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DGAP-News: ADO Properties S.A. / Key word(s): Personnel
ADO Properties S.A.: New senior management to be appointed
13.06.2019 / 22:40
The issuer is solely responsible for the content of this announcement.
ADO Properties S.A.: New senior management to be appointed
Berlin, June 13, 2019. ADO Properties S.A. (the "Company") has today extended the appointment of Florian Goldgruber, Chief Financial Officer (CFO), and Eyal Horn, Chief Operating Officer (COO), on an interim basis until September 30, 2019, while the Company is undertaking a search for a new CFO and COO. Rabin Savion has decided not to extend his appointment as Chief Executive Officer (CEO) of the Company, and his appointment as CEO is expected to end with the scheduled expiration of his contract on July 22, 2019. The Company is in the process of searching for a new CEO for the Company.
Moshe Dayan, Chairman of the Board of Directors of the Company, said: " We are grateful to Rabin, Florian and Eyal for their dedication to ADO Properties in the past years in helping ADO Properties to become the very successful company that it is today, and we wish each of them all the best for their future following their time with the Company."
About ADO Properties
ADO Properties is a company that focuses on the residential real estate sector and owns a property portfolio of around 24,000 units in Berlin. The company operates an entirely integrated, scalable in-house platform that includes a dedicated property administration. The portfolio of ADO Properties is concentrated in central locations inside Berlin's S-Bahn-Circle and in attractive districts on the city's periphery.
Contact:
Florian Goldgruber, CFO
13.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
ADO Properties S.A.
1B Heienhaff
1736 Senningerberg
Luxemburg
Phone:
+352 278 456 710
Fax:
+352 262 634 079
E-mail:
ir@ado.properties
Internet:
www.ado.properties
ISIN:
LU1250154413
WKN:
A14U78
Indices:
SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index
Listed:
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange, SIX
Adler Group SA, formerly known as ADO Properties, is a Luxembourg-based real estate company. The Company operates in Germany, in the residential real estate field with approximately 70,000 residential units, and a development pipeline of approximately 10,000 new flats in Germany. The Company focuses on asset and portfolio management, property and facility management and developing residential properties throughout Germany. The Company operates through two business segments: Residential property management and development. Residential property management offers renting and managing residential properties, the management of tenancy agreements and marketing of residential units with the focus on optimization of rental income. The development side of the business splits into build-to-sell projects and build-to-hold projects.