DGAP-News: Instone Real Estate Group SE
/ Key word(s): Personnel
Board Appointments of Kruno Crepulja and Andreas Gräf Prolonged Prematurely - Conversion into a SE Completed
- CEO and COO extend their contracts by another four years through the end of 2025
- Stefan Brendgen, Chairman of the Supervisory Board: "By retaining the successful senior management, we are strengthening the basis for our planned growth"
- The conversion into a European stock corporation as approved by the annual general meeting 2021 is effective immediately
Essen, 1 September 2021: By completing the conversion into a European stock corporation (Societas Europaea - SE) with its registration in the commercial register yesterday, the Supervisory Board of the new Instone Real Estate Group SE ("Instone") is sending a clear signal confirming the continuity of the company's senior management. The supervisory body appointed Kruno Crepulja, Chairman of the Management Board (CEO), and Andreas Gräf, Member of the Board (COO), prematurely for a second term ending on 31 December 2025. The terms of the previous contracts of the two incumbent board members, who have held their mandates since 2017, would have ended on 31 December of this year. Foruhar Madjlessi will continue to serve as CFO of the SDAX-listed residential developer through 31. December 2022.
"We are very glad we managed to convince Kruno Crepulja and Andreas Gräf to commit themselves to our company for another four years. Together with Foruhar Madjlessi and our entire highly motivated team, they opened up excellent growth perspectives for Instone's business model. It is an excellent piece of news that we will be able to keep pursuing this successful approach with a proven leadership team," confirmed Stefan Brendgen, the Chairman of the Supervisory Board of Instone.
The motion to convert the company into a European stock corporation was approved by a large majority at the annual general meeting at the Group headquarters in Essen in June of this year. "It is a step that underscores our sense of self as a dynamic and fast-growing enterprise. Moreover, it further enhances our attractiveness for European and international investors," as Kruno Crepulja, CEO, had emphasised in his keynote at the time.
About Instone Real Estate (IRE)
|Company:||Instone Real Estate Group SE|
|Phone:||+49 201 453 550|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1230312|
|End of News||DGAP News Service|