• Dietmar P. Binkowska to serve as CEO
  • Ralf Jung resigns by mutual consent
  • Christoph Schmidt-Wolf elected to chair the Supervisory Board

At today's meeting the Supervisory Board of IVG Immobilien AG resolved changes in the company's management. By mutual agreement, former CEO Ralf Jung leaves the company as of today due to differences of opinion between him and core investors on the future strategic direction. Concurrently, the Supervisory Board appointed its Chairman to date, Dietmar P. Binkowska, as a new member of the Management Board and CEO. He will work together with Rolf Glessing, CFO, and Oliver Priggemeyer, COO. Also, Mr Christoph Schmidt-Wolf, Deputy Chairman of the Supervisory Board to date, has been elected to take over the reins of this committee. Mr Gerhard L. Dunstheimer will serve as Deputy Chairman.

Before his time as Head of the Supervisory Board of IVG Immobilien AG, Mr Binkowska was Chairman of the Management Board of NRW.Bank, the regional development bank for the state of North Rhine-Westphalia. Before that he held various senior positions, amongst others at Deutsche Bank and HypoVereinsbank for many years. The 53-year-old had been appointed a member of the Supervisory Board of IVG Immobilien AG in September 2014 and had taken over the reins. Given his career history, Mr Binkowska is considered an expert in financing issues with excellent credentials in the institutional funds business.

"The company is on an excellent footing for a promising future, given the quality of the assets, the good operational figures, the professional expertise of the entire team, and the trust of the investors," Mr Binkowska said. "Thus, I have gladly accepted the challenge of being part of the management team." Mr Schmidt-Wolf gave thanks to Ralf Jung for his work in the challenging phase immediately after the insolvency proceedings and wished him all the best for the future.

About IVG Immobilien AGThe strategic core business of IVG Immobilien AG is the purchase, management and sale of office buildings in Germany. It has the largest portfolio of office buildings in Germany. The company's operations centre around profitable management practices, purpose-built property development and active portfolio management, all with the ultimate aim of increasing the value of its own real estate portfolio and sustaining its appreciation in value. In addition to these core business operations, IVG Immobilien AG holds investments in a service provider offering structured real estate products for institutional investors (IVG Institutional Funds GmbH) and a company engaged in the installation, operation and leasing of underground oil and natural gas storage facilities (IVG Caverns GmbH), both of which operate independently.

distributed by