By Joshua Kirby

 

Vonovia has appointed a new chief financial officer, with Philip Grosse of recently-acquired peer Deutsche Wohnen SE replacing Helene von Roeder, effective from Jan. 1.

Ms. von Roeder will become head of a new innovation and digitalization division, the German real-estate company said Monday. The company's management board as such has been expanded to five from four members previously, a move that forms part of the combination agreement concluded earlier this year with Deutsche Wohnen.

Mr. Grosse was CFO at Deutsche Wohnen, which he joined in 2016; he previously worked in investment banking, including with Swiss lender Credit Suisse, Vonovia said. Deutsche Wohnen Chief Executive Michael Zahn has meanwhile decided not to accept an offer to become vice-chair of Vonovia's supervisory board, the company said.

Vonovia's takeover bid for its peer was successful on its third attempt at an offer of EUR53 a share, resulting in a combination that forms Europe's largest residential real-estate group.

 

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

 

(END) Dow Jones Newswires

December 13, 2021 04:54 ET (09:54 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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