Ott takes over leadership of German subsidiary

Jean-Francois Ott, founding partner and CEO of Orco Property Group, has been appointed CEO of the group's German listed subsidiary, Orco Germany. The board of directors of Orco Germany announced the appointment on Tuesday. In addition, Nicolas Tommasini, deputy CEO of Orco Property Group, has been appointed deputy CEO of Orco Germany. Brad Taylor has been named director of Corporate and Legal Affairs at Orco Germany.

The board changes follow the decision of Rainer Bormann, former CEO, not to renew his contract. The German company's board of directors said the appointment of the new management will improve Orco Germany's efficiency and leadership.

Ott started Orco Property Group S.A. in 1991 to develop property in Central and Eastern Europe. Based in Paris, he manages the Orco Property Group's strategy, new business development, group finance issues as well as banking and investors relations. He decided to enter Germany in 2004, first with the acquisition of a portfolio of buildings in Berlin-Prenzlauer Berg, then with the acquisition of GSG and few major development projects such as Wertheim on Leipziger Platz. In 15 years he realized the acquisition, development and financing of more than 100 projects.

Tommasini, based in Paris, was involved in business development in Eastern and Central Europe prior to joining Orco Property Group in 1997.

Taylor, also based in Paris, is a licensed attorney in the US. He practiced law with international law firms such as Akin Gump Strauss Hauer & Feld in Houston and Greenberg Traurig in Dallas. He worked with the private equity firm Holland Park Capital in Austin before moving to Paris in 2007 to work with Orco Property Group as Deputy to Ott. He currently serves as Orco Property Group's director of Corporate and Legal Affairs.