Frank Nickel, former CEO of Cushman & Wakefield Germany, is taking over from Bruno Ettenauer as the new chief executive of listed Austrian property firm CA Immo.
Frank Nickel, former CEO of Cushman & Wakefield Germany, is taking over from Bruno Ettenauer as the new chief executive of listed Austrian property firm CA Immo.
Ettenauer will quit his position at end-2015, almost three years before his term runs out, CA Immo said this week, without a giving a reason. The resignation is by mutual agreement, the company added.
Ettenauer joined CA Immo in 2006 as a member of the executive board and was appointed CEO in 2009. Under his leadership, the company established itself as one of the leading developers and owners of office assets in Germany. At the same time, it gained a leading position in Central Europe, where CA Immo holds a portfolio of office assets across Austria, Germany, Czech Republic, Poland, Hungary and Romania.
‘It is a great honour that during the last 10 years I have been allowed to participate in the transformation of CA Immo from a purely Austrian focused platform into a pan-European real estate company,’ Ettenauer said. ‘We have mastered the challenges of the difficult years 2008-2010 well and I am proud to see CA Immo expecting another record result for the year 2015…CA Immo is in great shape and is well positioned for further growth.’
Nickel, a German citizen, was formerly CEO of Cushman & Wakefield Germany, a member of Cushman’s European executive committee and chairman of its EMEA corporate finance practice. Prior to C&W, he was managing director and head of commercial real estate for Deutsche Bank in Germany, Austria and Switzerland. He also held a seat on DB’s commercial real estate executive committee.
Following his appointment, which takes effect from 1 Jaunary, Nickel will form the management board at CA Immo together with chief financial officer Florian Nowotny.
