23 Mar 2010 07:00
Treveria plc
("Treveria", the "Group" or the "Company")
23 March 2010
Treveria Asset Management Appoints Chief Financial Officer
Treveria plc (AIM: TRV), the German retail focused real estate investment company, announces that its subsidiary, Treveria Asset Management ("TAM"), has appointed Dr Bernhard Fuhrmann as chief financial officer with immediate effect. It follows the recent appointment of Michael Neubuerger as chief executive officer of TAM.
Dr Fuhrmann, aged 46, has extensive experience in the real estate industry, as well as corporate reporting and investor relations, and most recently acted as an independent consultant working on mergers and acquisitions for lending banks and other financial institutions. Between 2006 and 2008 he worked for Commerzbank AG as chief operating officer of the commercial real estate division, founding a real estate private equity business. Prior to that he was head of finance, controlling and tax at Eurohypo AG, where he managed the integration of the finance divisions of three merged mortgage banks. Between 1997 and 2001 he held a number of roles at Deutsche Bank AG.
Dr Bernhard Fuhrmann's annual remuneration will consist of a base salary, plus the issue of 1.2 million new shares in the Company which he will receive over the course of a two year period. Except in the event of a change in control of the Company, he will be required to hold the shares for three years from the date of his appointment. In addition, he will be entitled to a performance bonus aligning his interest to that of shareholders.
Michael Neubuerger, chief executive of TAM, said:
"Bernhard's extensive experience in finance across the real estate industry, particularly in the German market, will be of great benefit to TAM as we continue to put in place a strong management team. I welcome Bernhard and look forward to working with him closely as we aim to maximise the long term value potential in Treveria's property portfolio."
Enquiries:
| Treveria Asset Management Michael Neubuerger / Bernhard Fuhrmann
| +44 (0)20 7960 6525 |
| Numis Securities Limited (NOMAD to the Company) Nick Westlake / Hugh Jonathan
| +44 (0)20 7260 1000 |
| Financial Dynamics Richard Sunderland / Laurence Jones | +44 (0)20 7831 3113 |