EQS-News: DIC Asset AG
/ Key word(s): Personnel
Management board changes and pooling of responsibilities
Frankfurt am Main, December 14, 2022. Today, DIC Asset AG ("DIC"), WKN: A1X3XX / ISIN: DE000A1X3XX4, announces changes in the composition of its management board. In today's meeting of DIC AG's supervisory board, Torsten Doyen (52), who will head the institutional business segment as CIBO, and Christian Fritzsche (45), who will head the new operations segment as COO, were appointed as new ordinary members of the management board of DIC AG. They will join Johannes von Mutius, CIO, and Sonja Wärntges, CEO and CFO, who will continue to serve in their capacities. All matters concerning capital markets, including M&A, will be pooled within Sonja Wärntges' scope of responsibilities. The board members Christian Bock (CIBO), currently responsible for the institutional business segment, and Patrick Weiden (CCMO), currently responsible for capital markets and M&A, will leave the management board of DIC AG by mutual agreement with effect from expiration of December 31, 2022.
Torsten Doyen joined DIC AG in February 2021 and has been responsible for substantial parts of the institutional business segment as the managing director of GEG German Estate Group. A real estate management graduate and qualified savings bank professional, Torsten Doyen has many years of experience in working with corporate clients and institutional investors in the fields of conceptualization and sales as well as in the structuring, placing and managing of financial vehicles.
Christian Fritzsche, who holds a degree in business administration, has worked in the real estate industry for more than 20 years. He joined DIC AG in 2010 and currently serves as the managing director of DIC Onsite GmbH.
Following a dynamic phase of organic and inorganic growth with currently EUR 14.5 billion in assets under management, DIC is now focusing on operational excellence and generating an increasing portion of predictable long-term cash flows on the basis of a sound balance sheet and financial position. Thanks to its best-in-class real estate platform, DIC already generates a high portion of sustainable cash flows from its own real estate portfolio consisting of properties worth more than EUR 4.5 billion. In addition, DIC generates ongoing management fees and transaction-based fees from its roughly EUR 10 billion in assets under management in the third-party business for institutional investors. By focusing on operational excellence, pooling all financing and capital markets work within the CEO's scope of responsibilities and concentrating the logistics business in VIB Vermögen as already announced in late November, DIC AG enhances its position and strength for the next market phase.
"DIC AG is renowned for its efficient, dynamic and sustainable approach. After having extended the management board terms of Sonja Wärntges and Johannes von Mutius in the summer, we are now completing the management board by appointing Torsten Doyen and Christian Fritzsche as new members and adjusting the organizational responsibilities to the changed business and market requirements. On behalf of the entire supervisory board, I would like to thank Christian Bock and Patrick Weiden for their tremendous commitment and their contributions to achieving the milestones and growth steps of DIC in the past years," Prof. Dr. Gerhard Schmidt, chairman of the supervisory board, said.
Sonja Wärntges said: "I would like to thank my two colleagues on the management board Christian Bock and Patrick Weiden for our successful cooperation. At the same time, I am happy that with Torsten Doyen and Christian Fritzsche we were able to recruit two new management board members internally. This shows in particular that DIC AG offers its employees great opportunities for professional development and has outstanding talent in its workforce. I am very confident that with the reorganized management board team and the overall strategy of DIC Group we are very well positioned to face the new, big challenges of our market."
About DIC Asset AG:
DIC Asset AG is Germany’s leading listed specialist for office and logistics real estate with more than 20 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with nine offices on the ground in all major German markets (with VIB Vermögen AG included). We currently manage a total of 359 assets with a combined market value of EUR 14.5 billion on site, always close to our properties and their occupiers.
The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales.
In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields.
DIC Asset AG has been SDAX-listed since June 2006.
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14.12.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Company:||DIC Asset AG|
|Neue Mainzer Straße 20|
|60311 Frankfurt am Main|
|Phone:||+49 69 9454858-1492|
|Fax:||+49 69 9454858-9399|
|ISIN:||DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9|
|WKN:||A1X3XX, A12T64, A2GSCV, A2NBZG|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange|
|EQS News ID:||1513073|
|End of News||EQS News Service|
1513073 14.12.2022 CET/CEST