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CA Immobilien CFO resigns after shareholder divests €758M stake

CA Immobilien Anlagen AG CFO Hans Volkert Volckens resigned from the company's management board, with effect from Oct. 10.

Volckens' departure came as a result of a mutual agreement with the Austrian commercial real estate group's supervisory board, on the back of shareholder Immofinanz AG's approximately €757.9 million sale of its roughly 26% stake in the company to a Luxembourg-based fund managed by Starwood Capital Group. The former CFO will leave to "follow a new path" professionally, according to a release.

CA Immobilien's supervisory board will meet to discuss Volckens' replacement within the next few weeks.

In the meantime, CEO Andreas Quint, whose mandate was renewed until Dec. 31, 2021, will act as interim CFO.

Separately, Keegan Viscius, a senior vice president from Starwood Capital, will join CA Immobilien's management board as its chief investment officer and take charge of the company's investments and asset management matters, with effect from Nov. 1.

The fund managed by the private equity giant acquired 25,690,163 no-par bearer shares and four registered shares of CA Immobilien at €29.50 per share from Immofinanz as part of the stake transaction in September.