HAMBURG (dpa-AFX) - The chairman of TAG Immobilien's supervisory board, Rolf Elgeti, will not stand for re-election at the upcoming annual general meeting. Elgeti will therefore leave the board at the end of the meeting on May 16, the company announced in Hamburg on Wednesday. Elgeti cited "personal reasons" for the move. According to the company, the remaining candidates will stand for election unchanged. In its current composition, the Supervisory Board assumes that Olaf Borkers, if elected, will stand for the chairmanship of the Supervisory Board until it is completed in accordance with the Articles of Association.

He added that the Supervisory Board would begin the search for a suitable successor and wanted to complete this quickly. Elgeti had been Chairman of the Supervisory Board since the end of 2014, before which he was CEO of TAG./nas/he