GAGFAH S.A. / Change of Personnel
20.03.2009
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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GAGFAH S.A.
2-4, rue Beck
L-1222 Luxembourg
ISIN: LU0269583422
Frankfurt Stock Exchange, Regulated Market (Prime Standard)
Ad hoc notification of GAGFAH S.A. in accordance with § 15 of the Security
Trading Act (WpHG)
Luxembourg, March 20, 2009 - The supervisory board of GAGFAH GmbH and
Gagfah M Immobilien-Management GmbH resolved today to appoint William
Joseph Brennan to succeed Burkhard U. Drescher as Chief Executive Officer
(i.e. Chairman of the Management Board of GAGFAH GmbH and of the German
GAGFAH Group) beginning August 1, 2009, when Mr Drescher's contract and
office will have expired. Mr Brennan will continue to act as Managing
Director of GAGFAH S.A.'s operating subsidiaries GAGFAH GmbH, Gagfah M
Immobilien-Management GmbH, and WOBA Dresden GmbH. It is also contemplated
that Mr Brennan will be appointed Managing Director of NILEG Immobilien
Holding GmbH, Gagfah Holding GmbH, and WOBA Holding GmbH, also
subsidiaries of GAGFAH S.A. Mr. Drescher will continue to be responsible
for the management of the operating subsidiaries and remain Chairman of the
Management Board of GAGFAH GmbH and of the GAGFAH Group through July 31,
2009.
William Brennan has also been appointed Deputy CEO of GAGFAH S.A.'s
operating subsidiaries until he succeeds Mr. Drescher, having served as COO
(Chief Operations Officer) since January 2009. Prior to joining Fortress
in September 2008, Mr. Brennan was CFO for RCI LLC's (a global leader in
provision of rental vacation homes) interests in Europe, Middle East, South
Africa and India, having been based in London for the past five years.
In addition, Nicolai Kuss has been appointed COO (Chief Operations Officer)
of GAGFAH S.A.'s operating subsidiaries. For the last five years, Mr. Kuss
has been the Asset Manager for Fortress' residential investments in
Germany.
Contact:
GAGFAH S.A.
Investor Relations
GAGFAH S.A.
2-4, rue Beck
L-1222 Luxembourg
Tel.: +352 266 366 21
info@gagfah.com
www.gagfah.com
R.C.S. Luxembourg B 109.526
About GAGFAH S.A.
GAGFAH S.A. is a joint stock corporation organized under the laws of the
Grand Duchy of Luxembourg qualifying as a securitization company under the
Luxembourg Securitization Law of March 22, 2004. The core business of
GAGFAH S.A.'s operating subsidiaries is the ownership and management of a
geographically diversified and well maintained residential property
portfolio located throughout Germany. With a portfolio of over 170,000
apartments, GAGFAH is the largest German listed residential property
company.
DGAP 20.03.2009
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Language: English
Issuer: GAGFAH S.A.
2-4, rue Beck
1222 Luxemburg
Luxemburg
Phone: + 352 266 366 21
Fax: + 352 266 366 01
E-mail: info@gagfah.com, skliche@gagfah.com
Internet: www.gagfah.com
ISIN: LU0269583422, LU0269583422
WKN: A0LBDT
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Ad hoc notification of GAGFAH S.A. in accordance with § 15 of the Security Trading Act (WpHG)
| Source: EQS Group AG