DGAP-News: Udo Giegerich to become new CFO of CORESTATE - tone from the top for investment

Udo Giegerich to become new CFO of Corestate - tone from the top for investment

• Gollnest named CIO DACH and will report to CEO Parmantier
• Giegerich to take over as CFO effective 1 August
• Additional expertise for transformation and digitalisation
• Structured process initiated for search for new COO
• Hübener and Löhken to step down from Management Board effective 31 July

Frankfurt, 20 July 2021 - The Supervisory Board of CORESTATE Capital Holding S.A. has appointed Udo Giegerich for a three-year term as the company's new Chief Financial Officer (CFO) and member of the Management Board with effect from 1 August.

The 52-year-old mathematical economist comes from Uniper SE. As Head of Group Finance & Investor Relations he was responsible for developing the finance function and investor relations. After starting his career as a consultant at firms such as KPMG and EY, Giegerich transitioned to the corporate side in 2003 as CFO for gas and electricity at OMV AG in Austria before moving onto the Austrian state property management company Bundesimmobiliengesellschaft and 50Hertz Transmission GmbH, where Giegerich served as Managing Director and CFO.

Friedrich Munsberg, Chairman of the Supervisory Board at Corestate, says: "I am very pleased that we were able to attract a proven and experienced financial expert, with many years of institutional expertise as CFO and transformation process, to our company in the person of Udo Giegerich. He will further strengthen the Group's finance function and its relationships with investors."

Udo Giegerich says: "I am truly looking forward to my new duties at CORESTATE. The company's tremendous potential and the experienced management team is what motivated me to take this step. I aim to roll up my sleeves and help bring CORESTATE onto a sustainable growth trajectory."

Management Board realignment and streamlining

As part of the efforts to realign and streamline the Management Board, CORESTATE links its investment department more closely with market-related functions and underscores its importance by allocating it directly to CEO René Parmantier. Tobias Gollnest becomes new Chief Investment Officer (CIO) DACH.

Gollnest (47) is a lawyer by training and has been with CORESTATE since 2014, most recently serving as Group Head of Investment and Group Head of Commercial Real Estate. Prior to joining the company, Gollnest held inter alia senior positions at the investment bank Merrill Lynch and at Barclays Capital.

Dr Katharina Kneisel has been appointed Group General Counsel. Kneisel has been with CORESTATE since early 2019 and most recently served as Group Head of Legal. A fully qualified lawyer, she has extensive expertise in the fields of corporate, capital market and regulatory law, having previously spent many years working for the international law firm CMS Hasche Sigle.

Current CIO Nils Hübener and Chief Legal & HR Officer (CLHRO) Daniel Löhken will step down from the Management Board on 31 July 2021 and from the Company on 31 August 2021. The separation is taking place at the request of both gentlemen, for personal reasons and on the best of terms. The position of Chief Operating Officer (COO) with a focus on digitalisation and process optimisation is newly created, A structured search is already under way.

Supervisory Board Chairman Munsberg: "Appointing a COO is the last step in restructuring the Management Board. The goal of the Supervisory Board was to significantly accelerate digitalisation and process optimisation. As a result, the most senior management positions will have been filled in such a way so that Corestate is ideally positioned for the future."

Munsberg has words of thanks for the Management Board members stepping down: "It is with great regret that we complied with the wish expressed by Mr Hübener and Mr Löhken to end their employment relationships at Corestate for personal reasons. Mr Hübener has worked for our Group since April 2020 and has been responsible for the core Investment Management, Asset & Property Management and Research areas, which he has helped to advance and shape with tremendous personal dedication. Mr Löhken has worked for our Group since March 2018 and has been instrumental in forming the areas in his purview during that time with professionalism and tremendous personal commitment, including Human Resources, Legal, Compliance, Risk Management and ESG. On behalf of the entire Supervisory Board, I would like to thank Mr Hübener and Mr Löhken for a close and trusting working relationship and wish both of them all the best in their personal and professional endeavours."

Press Contact

Jorge Person

T: +49 69 3535630-136 / M: +49 162 2632369

[email protected]

Investor Relations Contact

Dr Kai Klinger

T: +49 69 3535630-106 / M: +49 162 1036025

[email protected]

About CORESTATE Capital Holding S.A. (CORESTATE)

Corestate is an investment manager and co-investor with around € 28 billion in assets under management. The company sees itself as a manager for the entire length of the real estate value chain. Thanks to its fully integrated real estate platform, it is able to offer investors a wide range of services, especially the opportunity to invest in large-scale societal trends such as urbanisation, demographic shifts or sustainability - trends that will continue to have a decisive influence on the living and working environment in the long term. The consistent focus on asset classes that will be successful in the long run constitutes a central cornerstone of the company strategy. At Corestate, all concepts are supported with ESG expertise that is unique to the industry. With some 800 experts, Corestate offers clients and investors a full range of services and consultation from a single source, from project financing and real estate management to sales. Corestate is listed on the Frankfurt Stock Exchange and operates as a respected business partner for institutional and semi-institutional investors as well as high-net-worth private investors in 11 countries across Europe, with offices amongst others in Frankfurt, Vienna, Zurich, Paris, Madrid and London. Please visit www.corestate-capital.com for further information.

Forward-looking statements

This press release may contain certain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial position, development or performance of the Company and the estimates given here. These factors include those described in published reports. These reports are available on our website www.corestate-capital.com. The Company assumes no obligation whatsoever to update these forward-looking statements or to conform them to future events or developments. No inappropriate significance should be attached to forward-looking statements, which apply only to the date of this communication.