Dr. Wolfgang Schäfers new CFO of IVG Immobilien (DE)

IVG announces that the Supervisory Board has appointed Wolfgang Schäfers (43) as a member of the Management Board of IVG Immobilien AG with effect from 1 February. He succeeds Bernd Kottman (50), who will leave the Management Board at his own request on May 31, 2009 after IVG's Annual Shareholder Meeting.

As a member of the Management Board, Kottmann has been responsible for IVG's real estate portfolio since 2001. Since 2007 he has been in charge of the Finance Department and has also served as deputy spokesman of the Management Board. During this time he provided critical impetus for the development of IVG into one of Europe's leading real estate companies. Dr. Gerhard Niesslein, spokesman of IVG's Management Board: "We deeply regret Bernd Kottmann's decision. The Management Board and the Supervisory Board thank him for his highly successful work over the course of many years. At the same time, we are pleased that with Wolfgang Schäfers we have won a proven financial and real estate expert for a smooth transition."

To date, Prof. Wolfgang Schäfers has acquired a broad range of experience in the financial and real estate sectors and also brings an academic perspective to these subjects. Following initial employment in the banking sector and an academic career focusing on the real estate industry, in 1996 he held a leading position with Arthur Andersen Real Estate where until 2002 he headed Real Estate Corporate Finance in Frankfurt as a partner. Since 2002 Schäfers was Managing Director at Bankhaus Sal Oppenheim in charge of Real Estate Investment Banking. From 2004, he is a professor for real estate management at the "IREBS Institute für Immobilienwirtschaft" at the University of Regensburg.

Source: IVG

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