Vonovia: Change on executive board – FFO increases by 20 %
Klaus Freiberg (57), member on the executive board of Vonovia and its predecessor since 2010, will be stepping down after the AGM on 16 May. Arnd Fittkau (46), currently chief representative responsible for Vonovia’s Rental segment, will be appointed to the board at the same time. The value-add segment, which bundles Vonovia’s services and which Freiberg managed over and above his responsibility for the Rental segment will be led by CEO Rolf Buch and operatively run by the new chief representative Konstantina Kanellopoulos. Freiberg will continue to work with Vonovia in an advisory capacity. The housing group has also published its first quarter figures: Rental income and operative earnings (FFO) increased by 20% to €502mn and €304mn respectively, mainly due to the takeovers of Buwog and Victoria Park. Monthly actual rent rose by 6.1 % to €6.56/sqm. The annual FFO forecast was boosted slightly to €1.17bn. That would correspond to a plus of about 5 % over the previous year.
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