EUROPE - Industry association INREV has appointed two new members to its management board, saying it sought to "reflect the current makeup" of non-listed real estate.
This week's annual general meeting in Vienna also saw Patrick Kanters, director of global real estate at APG, assumes the chairmanship from Michael Morgenroth of Germany's Signa Holding, as announced last month.
The European association has selected Udo Schaffer, vice-president and head of real estate portfolio management at German energy business E.On, and Erwin Stouthamer, managing director and founder of Composition Capital Partners, to join its management board.
Shaffer and Stouthamer replace Matthias Stürmer, former co-head of real estate at Capital Dynamics, and Raymond Jacobs, Franklin Templeton Real Estate Advisors managing director.
Deborah Lloyd from Nabarro and Jeff Jacobson from LaSalle Investment Management have been re-elected to continue a second three-year term on the board.
Matthias Thomas, the association's chief executive, said: "This year's appointments reinforce our commitment to the industry and our members and the need for a true representation of today's market - we are delighted to have Udo and Erwin join us and also look forward to welcoming Patrick as our new chairman."
Thomas also thanked Stürmer and Jacobs for their dedication and hard work during their time on the board.