Adler announces new leadership team

Adler Real Estate AG has appointed Tomas de Vargas Machuca and Maximilian Rienecker to the management board as co-CEOs.

de Vargas Machuca has been the chairman of the executive committee and acting CFO of the company since 2013.

Rienecker, who was appointed head of corporate finance & strategy in February 2017, will work together with de Vargas Machuca in the role of co-CEO.

The COO, Sven-Christian Frank, who has been a member of the management board of Adler Real Estate AG since June 2016, wants to remain with the firm.

Arndt Krienen wants to be relieved of his duties as CEO and as a member of the management board until further notice.