DGAP-News

Klaus Schmitt to become new Chairman of the Management Board (CEO) at Corestate - Management Board to be expanded - Seite 2

"The Supervisory Board is sad to see Lars Schnidrig leave the company," Dr Allendorf added. "As CFO and CEO, Lars Schnidrig contributed greatly to the institutionalisation and governance of the Corestate Group at all levels and created a solid basis for the further development of our company. He not only played a major role in establishing a European platform and in realigning the financing structure, but he also comprehensively integrated ESG into the company's strategy and has significantly improved Corestate's reputation at the capital market. I would like to thank him on behalf of the entire Supervisory Board."

"Together with an amazing team, we have achieved a great deal both strategically and operatively at the Corestate Group over the past three years," said Lars Schnidrig, reflecting on his decision. "Over the past few months, we have also managed to set the right course to benefit from the anticipated market recovery in 2021, despite the currently extremely challenging market environment. I think I can say with confidence that I will be handing the company over to my successor, Klaus Schmitt, in good shape."

The Supervisory Board is also expanding the Management Board with the addition of two new functions. Daniel Löhken will join the Management Board as Chief Legal and HR Officer responsible for Legal, Compliance, ESG, Risk Management and Human Resources with effect from 1 November 2020. In addition, a separate chief financial officer will be appointed to the Management Board, with a suitable candidate to be recruited as part of a structured process. The new leadership will continue to pursue the existing strategy and focus on expanding the Core and Core+ risk classes, along with systematic debt reduction.

"Daniel Löhken is an outstanding addition to the Management Board," said Dr Allendorf. "He has excelled in advancing our governance and organisational development since joining Corestate at the start of 2018 and continues to make a vital contribution to the successful transformation of our company. With this expanded and well-balanced Management Board, we will be able to open up further growth opportunities on the market. Operative business will be well positioned under the leadership of Klaus Schmitt as CEO and Nils Hübener as CIO. I am certain that we will see many positive developments from a client and a transaction perspective in the coming quarters. In parallel, Daniel Löhken as CLO and the new CFO will be expertly and efficiently managing central corporate functions."