The supervisory board of Colonia Real Estate AG (ISIN DE0006338007) appoints the former supervisory board member Ingmar Schmitt as of 1st of May 2008 as new Chief Financial Officer. At first, the contract lasts until 31st of December 2008. The contract of CEO Stephan Rind got extended in todays supervisory board meeting by another five years. Mr Klaus Reichert retires as Chief Financial Officer due to health reasons by the 30st of April 2008.
Explanatory part
Mr Schmitt has been member of the supervisory board from 2005 until 2006 and has a deep knowledge of the company. He started its career after an MBA in economics at the university of Cologne at the auditing company Coopers & Lybrand (todays PWC). Through an international listed consulting company he was as well responsible for several large M&A transactions as well as being head of the accounting department for a listed holding company in Hamburg. Its latest position was being partner of the consulting company Schmitt & Partner. This companies focus is in the advise of listed companies' process optimization in the accounting and their consolidated financial statements particularly during the course of M&A transactions as well as the integration of subsidiaries. He advised several companies during their consolidated financial statements conversion into IFRS during IPO's.
Colonia Real Estate signals strong continuity and an ongoing growth path with the extension of the contract of CEO Stephan Rind. "I am very pleased about the given assurance of the supervisory board in my work and am looking forward into the future challenges. I accept this mandate and will furthermore put all my power in the development of Colonia Real Estate AG as one of the leading real estate and asset management companies in Germany. With the appointment of Ingmar Schmitt as CFO, we could win an experienced finance professional which knows the company at best and who is prepared to achieve the companies duties and responsibilities", says Stephan Rind.
Explanatory part
Mr Schmitt has been member of the supervisory board from 2005 until 2006 and has a deep knowledge of the company. He started its career after an MBA in economics at the university of Cologne at the auditing company Coopers & Lybrand (todays PWC). Through an international listed consulting company he was as well responsible for several large M&A transactions as well as being head of the accounting department for a listed holding company in Hamburg. Its latest position was being partner of the consulting company Schmitt & Partner. This companies focus is in the advise of listed companies' process optimization in the accounting and their consolidated financial statements particularly during the course of M&A transactions as well as the integration of subsidiaries. He advised several companies during their consolidated financial statements conversion into IFRS during IPO's.
Colonia Real Estate signals strong continuity and an ongoing growth path with the extension of the contract of CEO Stephan Rind. "I am very pleased about the given assurance of the supervisory board in my work and am looking forward into the future challenges. I accept this mandate and will furthermore put all my power in the development of Colonia Real Estate AG as one of the leading real estate and asset management companies in Germany. With the appointment of Ingmar Schmitt as CFO, we could win an experienced finance professional which knows the company at best and who is prepared to achieve the companies duties and responsibilities", says Stephan Rind.
