S IMMO AG scales down Management Board
S IMMO AG (Bloomberg: SPI:AV, Reuters: SIAG.VI) announces that the number of Management Board members will be reduced from three to two. It has been amicably agreed that Holger Schmidtmayr’s current term of office, set to expire on 31 January 2013, will not be extended. His responsibilities will be taken over by the remaining members of the Management Board, Ernst Vejdovszky and Friedrich Wachernig.
Holger Schmidtmayr has been a member of the Management Board since 01 October 2004. He has played a major role in the expansion of S IMMO AG into new markets, and in bringing in new groups of investors to the Company. He was responsible for six capital increases amounting in total to some EUR 450 million.
“The Supervisory Board thanks Holger Schmidtmayr for his many years of dedication and many accomplishments, and wishes him all the best for the future,” says Martin Simhandl, the Chairman of the Supervisory Board.