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11/03/2016 | Corporate News

Fair Value REIT-AG: New Supervisory Board extends Frank Schaich’s tenure as CEO

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Munich, 11 March 2016 – As of 1 March 2016, the Supervisory Board of Fair Value REIT-AG (ISIN DE000A0MW975) has two new members. Hon.-Prof. Andreas Steyer and Mr. Markus Drews, who were appointed by the Munich local court, are both members of the Management Board of DEMIRE Deutsche Mittelstand Real Estate AG, Frankfurt. They will stand for election by the shareholders at the Annual General Meeting of Fair Value REIT-AG in May 2016.

 

The court was called upon to appoint the new members after the current members of the Supervisory Board, Dr. Oscar Kienzle and Prof. Dr. Heinz Rehkugler, resigned from their posts at the end of February 2016 following changes to the shareholder structure.

 

At the constituent meeting of the Supervisory Board, Mr. Rolf Elgeti was appointed chairman and Mr. Markus Drews deputy chairman of the Supervisory Board of Fair Value REIT-AG.

 

The Supervisory Board also extended Mr. Frank Schaich’s appointment as CEO prematurely until 31 January 2019.

 

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A REIT – Higher Return for Investors

REIT stands for Real Estate Investment Trust. The assets of these listed companies in Germany consist mainly of real estate and investments in other real estate companies.

 

At the international level, REITs have been established for many years. On 1 January 2007, they were introduced in Germany as well.

 

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