VIB Vermögen AG: Executive team to expand, management and supervisory board increase equity holdings
- The supervisory board has appointed Peter Schropp as a new member, effective as of January 1st, 2009
- Management and supervisory board considerably increase equity holdings
VIB Vermögen AG, a company specializing in commercial property holdings, is to strengthen its management team with effect from January 1st, 2009. The start of the new business year will see Peter Schropp take up his membership of the company's executive committee, with future responsibilities in the area of property. Ludwig Schlosser, who has acted to date as sole chairman, takes on the role of president of the executive committee. These measures mark the company's reaction to the strong expansion of its operational business and are made with a view to ensuring its future organisational efficiency.
Peter Schropp will continue to act as chairman of the company BBI Bürgerliches Brauhaus Immobilien AG, in which VIB Vermögen AG holds a majority stake of around 82%. This optimises further the management structure within the VIB Group.
Board chairman Ludwig Schlosser explains the background to this decision: "The expansion of the board is the right response to our past growth. The incorporation into the committee of extra talent enables us to continue our successful course into the future." He goes on to refer in particular to the experience and expertise of the new board member. "Thanks to his role as chairman at BBI Immobilien AG, Peter Schropp comes ready-equipped with a wide knowledge of how to run a stockmarketlisted property company. He was previously employed in the banking sector for 24 years, 15 of them in the area of property finance. We are therefore very glad to have an expert of his calibre on board."
The future chairman is looking forward to taking on his new role. "We are ideally placed, with our successful niche strategy, strong property portfolio and high profitability, to establish the VIB Group for the long term as one of southern Germany's leading commercial property concerns. I am looking forward to being able to contribute as board member in the future", says Peter Schropp.
The current management of VIB Vermögen AG and the supervisory board have meanwhile considerably increased their own equity holdings. The percentage of management-held equity has thus grown by around 100,000 shares, from 1.4% to the current total of some 2% of the company's available shares. The supervisory board has likewise increased its equity holdings from the previous level of 1.6% to the current 2.3%, which corresponds to a purchase of around 120,000 of the total of 17,084,000 available shares in VIB Vermögen AG. This confirms the intensified commitment of the firm's decision-makers to the ongoing development of the company. As Ludwig Schlosser puts it: "We are a fundamentally sound property company with a tried-and-tested business model and a solid financial structure. It is therefore a logical step for management and the supervisory board to further increase their own holdings. On these grounds additional purchases are planned for the future."
About VIB Vermögen AG
The VIB Vermögen AG is a medium-sized real estate holding company that focuses its investments on commercial real estate in South Germany. Founded in 1993 as a business partnership, the VIB was converted into a public company in the year 2000. Since then the company has developed its core competency in the fields of acquisition and asset management of its own real estate and of investment in companies with real estate assets. The VIB Vermögen AG operates a 'buy and hold' strategy. This entails developing real estate for its own portfolio and also acquiring existing properties. The real estate portfolio of the VIB Group comprises various logistics properties and industrial facilities, shopping and specialist retail centres and also commercial and service centres. The company achieves sustainable rental yields from a total lettable area of approximately 590,000 m².