VIENNA, April 30 (Reuters) - Austrian real-estate group Immofinanz appointed Dietmar Reindl to its executive board on Wednesday to replace Daniel Riedl, who is now running Buwog, which has been spun off.
Reindl, who has been in charge of asset management, logistics and hotels at Immofinanz, will be responsible for commercial office, retail and logistics properties and for marketing on the board.
“I am convinced he will be able to successfully advance the positioning of Immofinanz Group as a specialist for commercial properties in eastern Europe in this new function,” Immofinanz Chief Executive Eduard Zehetner said in a statement.
Buwog shares have risen since their market debut in Frankfurt on Monday. At current market prices, the company is worth about 1.32 billion euros.
Reporting by Georgina Prodhan. Editing by Jane Merriman