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Vonovia CFO, chairman to step down May 9; replacements named

Stefan Kirsten will step down as CFO of Vonovia SE, with effect from conclusion of the company's annual general meeting May 9.

Kirsten, who has managed the finance division of the multifamily-focused real estate company for more than seven years, is leaving the company at his own request. The executive will transfer all his responsibilities in the management board to Helene von Roeder, who was appointed to the board Jan. 23 to replace Gerald Klinck.

Von Roeder, the former CEO for Germany at Credit Suisse Group AG, will become CFO of Vonovia in mid-2018. The company noted that the controlling and finance areas of the management board, which were split under Kirsten's leadership and which happened as a result of the company's takeover of GAGFAH SA in 2015, will be combined once von Roeder takes on the role.

In a separate release, the company said Jürgen Fitschen will take on the role of supervisory board chairman May 9, and will be appointed as chairman of the board immediately. Fitschen will succeed Edgar Ernst.