Eckhard Schultz resigning from Management Board of LEG Immobilien AG; CEO Lars von Lackum to also take on role of CFO

In its meeting yesterday, the Supervisory Board of LEG Immobilien AG reached a mutual agreement with Eckhard Schultz (54), CFO and Deputy CEO, that Mr Schultz will step down from the Management Board as at 31 August 2019. Responsibility for the role of CFO will be assumed by CEO Lars von Lackum (44) in addition to his current duties.

“The Supervisory Board of LEG Immobilien AG wishes to thank Mr Schultz for his excellent work in the past. Mr Schultz not only successfully took the company public, but also developed it very successfully into one of Germany’s leading residential property companies together with the previous CEO Thomas Hegel. Mr. Schultz deservedly enjoys an outstanding reputation in the industry and on the capital markets,” said Chairman of the Supervisory Board Michael Zimmer. “On behalf of the entire Supervisory Board, I would like to express my sincerest gratitude to Eckhard. We wish him all the best for his future career.”

Eckhard Schultz (CFO) said: “I truly enjoyed developing LEG successfully over the past ten year with first-class colleagues and my wonderful team. I wish the company all the best for the future.” Eckhard Schultz and the Supervisory Board reached their decision following thorough deliberation and by mutual agreement on the best of terms.

A banker and economics graduate, Schultz joined the management of the LEG Group in May 2009. He has been the CFO and Deputy CEO of LEG Immobilien AG since January 2013. He previously held various key positions in the property division of the Schörghuber Group, ultimately rising to Commercial Managing Director. Earlier in his career he worked at Bayerische Hypotheken- und Wechselbank and Roland Berger Strategy Consultants. Schultz is a property economist and has been a member of the Royal Institution of Chartered Surveyors (RICS) since 2005.


About LEG

With around 131,000 rental properties and over 350,000 residents, LEG is one of Germany’s leading listed housing companies. The company has eight branch offices in North Rhine-Westphalia, providing personal local contact. LEG generated rental and lease income of around EUR 767 million in the 2018 financial year.


Investor Relations contact:

Burkhard Sawazki

Tel. +49 211 45 68-204
E-mail: burkhard.sawazki[at]­leg.ag

Press contact:

Sabine Jeschke

Tel. +49 211 45 68-325
E-mail: sabine.jeschke[at]­leg-wohnen.de


Disclaimer

This publication constitutes neither a solicitation to buy nor an offer to sell securities. To the extent that we express forecasts or expectations or make forward-looking statements in this document, these statements can entail known and unknown risks and uncertainties. These statements reflect the intentions, opinions, or current expectations and assumptions of LEG Immobilien AG. The forward-looking statements are based on current planning, estimates and forecasts, which LEG Immobilien AG has made to the best of its knowledge, but that are not a statement on their future accuracy. Actual results and developments can therefore differ materially from the expectations and assumptions expressed.

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