Wijnand Donkers has stepped down as Chief Executive of Deutsche Annington after six years at the helm of the German residential property group.
Wijnand Donkers has stepped down as Chief Executive of Deutsche Annington after six years at the helm of the German residential property group.
In a statement on Monday, the company said Donkers' role was 'complete' now that the refinancing had been secured, and that it was time for him 'to pursue new challenges'.
Deutsche Annington, which in July signed an agreement to restructure its multi-billion Grand securitisation vehicle through an equity injection from UK private equity firm and major shareholder Terra Firma, said it has started a search for a new Chief Executive who will lead the business through to an IPO and run the company when public.
Robbie Barr, Terra Firma's Chief Operating Officer as well as deputy Chairman of Deutsche Annington's Supervisory Board, is joining the Management Board until a new Chief Executive is appointed.
