Diversified real estate company TLG IMMOBILIEN AG said Elisabeth Stheeman and Frank Masuhr resigned as board members, effective late January.
Stheeman was replaced by Novalpina Capital LLP founding partner Stefan Kowski, who will hold office from Feb. 21 through the company's next general meeting.
Masuhr was named a board member and vice chairman at WCM Beteiligungs- und Grundbesitz-AG, which TLG IMMOBILIEN acquired in November 2017.
Michael Zahn, who is also the chairman and CEO of multifamily company Deutsche Wohnen SE, resigned as chairman of WCM, effective Feb. 8. Helmut Ullrich took over as chairman.
