After five years of service, Carsten Eckert (47), CEO of KGAL GmbH & Co. KG, is leaving the management team at his own request on July 31, 2012.
In 2007, Eckert took over the reins of the management team during a very important phase of the realignment process at KGAL and brought about far-reaching strategic and operational decisions. His initiatives in the management team have resulted in the company's clear realignment as a real capital asset manager, improved production and risk management processes and a significant expansion in market share.
Despite the persistent difficulties caused by the global financial market crisis, the company has gained numerous institutional customers throughout his tenure as CEO. KGAL can therefore continue to make good use of a strong position in the face of ongoing market changes and regulation initiatives.
"On behalf of the management team and the wider workforce, I would like to thank Mr. Eckert for his hard work and commitment. We respect his decision and wish him all the best in the new challenges he will face," says Stephan Winkelmeier, Chair of the Supervisory Board of KGAL GmbH & Co. KG.
By giving early notice of his desire to move on, Mr. Eckert enabled the company to make all the necessary preparations in good time and find the best possible successor. "We are extremely pleased that Dr. Georg Reul is taking over as CEO as early as 1 August 2012 and that we have been able to find a new CEO with outstanding expertise so quickly," says Winkelmeier.
Dr. Reul (45) has extensive experience in managing companies in the real estate and funds sector. He worked at IVG Immobilien AG from 1996 to 2010, where he was responsible for establishing and expanding funds business for private and institutional investors from 2006 as a member of the management board.
From 2010 to June 2012, Dr. Reul was CEO of Frankonia Eurobau AG, which develops real estate projects in partnership with renowned German insurers. Dr. Reul is an expert in concept and customer-specific issues that affect both the capital market and asset management and is skilled in strategic and operational issues relating to corporate governance.