By Joshua Kirby
Vonovia has appointed a new chief financial officer, with Philip Grosse of recently-acquired peer Deutsche Wohnen SE replacing Helene von Roeder, effective from Jan. 1.
Ms. von Roeder will become head of a new innovation and digitalization division, the German real-estate company said Monday. The company's management board as such has been expanded to five from four members previously, a move that forms part of the combination agreement concluded earlier this year with Deutsche Wohnen.
Mr. Grosse was CFO at Deutsche Wohnen, which he joined in 2016; he previously worked in investment banking, including with Swiss lender Credit Suisse, Vonovia said. Deutsche Wohnen Chief Executive Michael Zahn has meanwhile decided not to accept an offer to become vice-chair of Vonovia's supervisory board, the company said.
Vonovia's takeover bid for its peer was successful on its third attempt at an offer of EUR53 a share, resulting in a combination that forms Europe's largest residential real-estate group.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
12-13-21 0454ET