Oliver Schumy, currently chief financial officer at carton board manufacturer Mayr-Melnhof Group, will replace Eduard Zehetner as CEO of listed Austrian property company Immofinanz from March 2015.
Oliver Schumy, currently chief financial officer at carton board manufacturer Mayr-Melnhof Group, will replace Eduard Zehetner as CEO of listed Austrian property company Immofinanz from March 2015.
Schumy will assume the CEO role for a period of five years, Immofinanz said on Friday. As of 1 May 2015 he will succeed Zehetner as speaker of Immofinanz’ executive board.
‘With Oliver Schumy we have found an excellent successor for the position of chief executive officer. He represents the continuation of Immofinanz Group’s growth and optimisation strategy as the leading commercial property investor and developer in Central and Eastern Europe’, commented Michael Knap, supervisory board chairman of Immofinanz.
Zehetner’s term of office, which would have expired on 30 November 2014, will now be extended to 30 April 2015.
Schumy, 43, has extensive operating experience in Russia, Poland, Romania and Hungary. He previously worked as group finance director at Mayr-Melnhof and in other key functions in the areas of finance, tax, group accounting and M&A.
Zehetner, 62, has been a member of the Immofinanz executive board since November 2008 and CEO since February 2009. Following the successful reorganisation and strategic reorientation of the group, he had requested to hand over the reins to a successor at the end of his contract.
Vienna- and Warsaw-listed Immofinanz focuses on the development and management of office, retail and logistics properties in Central and Eastern Europe as well as Russia. Since its founding in 1990, the company has built up a portfolio valued at around €7.4 bn.
