Austrian listed property firm CA Immo said on Tuesday that CEO Frank Nickel is leaving the company for health reasons and will be replaced by Andreas Quint, starting in the spring.
Nickel is stepping down as per year-end 2017 at the earliest but in any event not later than end-March 2018.
Nickel, who has headed the company for the past two years, will continue to advise CA Immo as an external consultant.
New CEO Andreas Quint is to join the company before April 2018. He currently holds the position of head of corporate finance and portfolio transactions at BNP Paribas Real Estate, advising clients on German and international portfolio transactions.
Quint, a specialist in financial advice, was previously CEO Germany and later CEO corporate finance in Europe at Jones Lang LaSalle. He has also held senior positions with Catella and Ernst & Young.
'With Andreas Quint, CA Immo will be run by Management Board members whose strengths complement one another ideally,' said Torsten Hollstein, chairman of the Supervisory Board of CA Immo. 'Andreas Quint is an experienced CEO of real estate companies and has a broad range of operational experience in the international real estate sector, while CFO Volckens is an established expert in the fields of law, taxation, capital markets and the strategic development of real estate companies. Together they will ensure CA Immo continues its successful development.'
CA Immo focuses on the Central and Eastern European markets. The company is expected to merge with peer Immofinanz over the coming months in a deal which would create a new property giant focused on commercial assets in Central and Eastern Europe. Immofinanz already owns a significant stake in CA Immo.
