Change of CEO position following transition of operations to Berlin, Germany
As informed in release no 45 of 18th November 2010 Tower Group A/S, Michael Brag had announced that he would be leaving the company in his capacities of CEO once the transition of Tower operational activities were fully migrated to Berlin, Germany.
As the transition has now been completed, the Board has given release to Michael Brag as CEO of Tower Group A/S and the Board has today decided to name Martin Coté as the new CEO of Tower Group A/S.
Martin Coté, MBA, 35 years of age, is today an observer on the Board of Tower Group A/S and is also Director of Business Development for BXR Real Estate Group. His professional background includes 7 years in the international real estate industry and 3 years in banking.
The Board would like to express its high appreciation for the valuable contributions of Michael Brag in the restructuring of Tower Group and welcomes Martin Coté as the new CEO of Tower Group A/S.
An executive management team has been hired to assume day to day responsibilities in Germany. Friedrich Thiele now serves as CEO of Tower Management GmbH and Kai Wolfram now serves as CFO of Tower Management GmbH. Both executives are German residents with long experience in the real estate industry.
Tower Group A/S
Jens Erik Christensen
Chairman of the Board
Questions regarding this release can be directed to Chairman of the board, Jens Erik Christensen on tel:+45 40 61 90 90.
