The supervisory board of ADLER Real Estate AG, Berlin, has taken the decision to appoint Tomas de Vargas Machuca and Maximilian Rienecker to the Management Board as Co-CEOs with immediate effect. Tomas de Vargas Machuca has been the Chairman of the Executive Committee overseeing the capital markets activities of the Group and acting as its Chief Financial Officer since 2013. Maximilian Rienecker, who was appointed Head of Corporate Finance and Strategy in February 2017, will together with Tomas de Vargas Machuca assume the role as acting Co-CEO.

The Chief Operating Officer (COO), Sven-Christian Frank, who is member of the Management Board of ADLER Real Estate AG since 9 June 2016, will remain. Arndt Krienen will be relieved of his duties as CEO and as a member of the Management Board until further notice.