Züblin Immobilien is looking for a new CEO
Dr. Iosif Bakaleynik will give up his position as CEO of Züblin Immobilien Holding AG. From now on, he intends to focus on his mandate as Chairman of the Board of Directors, according to a company statement issued on the occasion of the Annual General Meeting held on Tuesday.
"The turnaround of Züblin has been successfully completed and the company is operationally and financially on a sound footing. This allows us to implement existing corporate governance practices and to separate the previous dual mandate of Chairman of the Board/CEO." Züblin Chairman of the Board of Directors Dr. Iosif Bakaleynik
"Following the successful restructuring, Züblin is in a position to initiate the next phase of strategy implementation and to dedicate itself to building up the real estate portfolio," the company added. The Compensation Committee, headed by Dr. Wolfgang Zürcher, is responsible for the search for a successor. A new appointment is expected by the end of the third quarter of 2016. Until then, Dr. Iosif Bakaleynik will continue to perform his current function as CEO.
"The turnaround of Züblin has been successfully completed and the company is operationally and financially on a sound footing. This allows us to implement existing corporate governance practices and to separate the previous dual mandate of Chairman/CEO," says Dr. Iosif Bakaleynik. Dr. Wolfgang Zürcher adds: "Züblin is ready for the further expansion of its core business and equipped for the transition to the growth phase. The timing for an operational handover from the turnaround manager to a proven real estate expert is therefore ideal." (mr)
