Peach Property Group AG announced changes to its executive management team. This comes after the recently reported downsizing of its Board of Directors in a move to further adjust its management team to the Company's new positioning in the market. This move will also entail a further reduction in Peach Property Group AG's cost base.

The new personnel structure reflects the Company's focus on its value-enhancing investment property portfolio, while major, complex development projects are being completed. Going forward, the management team will comprise only four members instead of six. Renzo Fagetti (Managing Director Switzerland) and Mirco Riondato (Chief Investment Officer) will leave the Company no later than mid-2015.

Renzo Fagetti will continue to be available to the Company as external real estate developer. Dr. Thomas Wolfensberger (CEO), Dr. Marcel Kucher (CFO), Bernd Hasse (Managing Director Germany) and Dr. Andreas Steinbauer (Head of Sales and Marketing) will remain on the management team. The operating property business in Switzerland will be headed directly by Chief Executive Officer Dr. Thomas Wolfensberger.

Dr. Marcel Kucher will also serve as Chief Operating Officer (COO) in addition to his role as Chief Financial Officer. The company is also announcing changes to its second management level. In this context, the Technical Director in Germany and the Chief Financial Officer for Germany will leave the Company by mutual agreement and on completely amicable terms in the third quarter of 2015 after the expiry of their contracts.

Given Peach Property Group AG's focus on investment properties, neither position will be filled again. As announced previously, the Company will instead create the new position of Chief Operating Officer /Head of Asset Management Germany.