DGAP-News: InCity Immobilien AG: MICHAEL FREUND TO REMAIN CHAIRMAN OF THE MANAGEMENT BOARD (CEO) OF INCITY AG FOR ANOTHER FIVE YEARS

Frankfurt am Main, 13 June 2022 The supervisory board of InCity Immobilien AG (InCity AG) unanimously voted to extend the management board appointment of its chairman (CEO), Michael Freund, by another five years.
 

The current term, which under the prior contract would have ended in November 2022, will therefore not expire until the end of day of 7 November 2027. Michael Freund, born in 1972, has been with InCity Immobilien AG since December 2021. Having initially served as Chief Financial Officer (CFO), he headed the company from April 2015 through November 2017 as sole member of the management board, and since then as chairman of the board (CEO) together with Helge H. Hehl as CFO. The contract of Helge H. Hehl was already extended in 2020 until November 2024.
With its decision, the Supervisory Board assured the staff continuity of the companys senior management, said Georg Oehm, Chairman of the Supervisory Board of InCity AG. At this time, we would like to voice our appreciation and recognition of the accomplishments that the dual leadership team of Michael Freund and Helge H. Hehl have achieved so far while wishing them the best of luck in the further implementation of our corporate strategy, which aims for medium- and long-term capital growth.

Contacts for enquiries:

InCity Immobilien AG
Beethovenstraße 71
60325 Frankfurt am Main
www.incity.ag

Press contact
Peter Dietze-Felberg
Phone: +49 (0)30 2844987-62
presse@incity.ag

Investor Relations
Helge H. Hehl, CFA
Phone: +49 (0)69 7191889-55
ir@incity.ag

About InCity Immobilien AG
As a multi-disciplinary real estate company, InCity Immobilien AG (referred to in the following as InCity AG) is dedicated to creating and increasing the value of property portfolios and operates in the fields of asset management and project development. For its property portfolio, InCity AG focuses on the real estate markets of the two major cities Berlin and Frankfurt am Main and pursues a sustainable investment strategy. The decisive factors here are location, property quality and long-term value stability. Accordingly, the portfolio consists of high quality core properties with value stability in Berlin as well as properties in locations in Frankfurt that are attractive in the long term with investment volumes between EUR 5 m and EUR 50 m. In addition, InCity AG assumes comprehensive and individually developed asset management contracts for third parties. InCity AG also has partnership-model-based participations with regional project developers in residential and commercial property projects in selected German metropolitan areas. It significantly strengthened its project development business unit in July 2021 by undertaking a contract, as a general contractor, for the construction of a new office property in the immediate vicinity of the Berlin-Brandenburg (BER) airport, as well as adding its own project development activities.
Visit the website for further information about the company: www.incity.ag