Jörn Stobbe (53) has been appointed by the company’s Supervisory Board to fill the role of Chairman of the Management Board of Union Investment Real Estate GmbH with effect from 1 January 2020. He will take over from Dr. Reinhard Kutscher, who will retire at the end of 2019, aged 65.
Jörn Stobbe has been a member of the management team and the company’s Chief Operating Officer (COO) since February 2017. He will succeed Dr. Kutscher as head of the Real Estate segment within the Union Investment Group, comprising Union Investment Real Estate GmbH and Union Investment Institutional Property GmbH of Hamburg as well as Vienna-based Union Investment Real Estate Austria AG. Last year, the three companies exceeded EUR 40 billion of real estate fund assets under management for the first time.
The rest of the management team at Union Investment Real Estate GmbH remains unchanged and consists of Martin J. Brühl (51), who manages acquisitions and disposals in Germany and internationally as Chief Investment Officer (CIO), and Volker Noack (55), who is responsible for asset management of the real estate holdings. The vacant fourth board-level position created by this leadership change will be filled in due course following Dr. Kutscher’s departure.