Munich-headquartered Domicil Real Estate has elected a new supervisory board at its annual general meeting, including a new chairman, Klaus Schmitt.
After Andreas Segal and Lars Lüdemann requested not to be considered for a further term in office, Schmitt, the former chief operating officer (COO) of Patrizia, was unanimously elected as chairman of the supervisory board.
Andreas Kolb, a member of the board of directors of the shareholder Versicherungskammer Bayern, was also unanimously elected as a member of the supervisory board. The third member of the supervisory board, Georg Erdmann, was confirmed in his post as deputy chairman.
Schmitt has more than 25 years’ experience in the real state sector, with the trained lawyer most recently spending 17 years working for Patrizia. As COO there he played a major role in the development of Patrizia into one of the leading pan-European asset managers.
For the past 35 years, Andreas Kolb has chiefly occupied leading positions for the Versicherungskammer Bayern Group. He has been a member of the board of directors of the insurance group since 2019 and currently holds the position of chief financial officer (CFO).
Khaled Kaissar, CEO and Domicil majority shareholder said: 'We would like to thank Andreas Segal and Dr. Lars Lüdemann for the successful collaboration and very much regret that both of them no longer wish to exercise their mandates.
'Klaus Schmitt and Andreas Kolb are highly experienced experts within the financial and real estate sectors, and will undoubtedly ensure that the interests of the shareholders will be protected in the further expansion of Domicil and the capital market orientation of the company. I look forward to the fresh impetus and the exchange of findings and opinions.'
Said Schmitt: 'I am very pleased to have been elected as the chairman of the supervisory board. Domicil is a company displaying strong growth and with an exciting business model. The combination of privatisation and service business allows for high margins while at the same time also ensuring a strong cash flow.'
Following a capital increase at the end of June, Domicil had already raised a further €15 mln and acquired a fund for institutional investors as an additional anchor shareholder, taking the business to five major shareholders.
