Corporate Governance

The term Corporate Governance refers to the legal and factual regulatory framework with regards to the management and monitoring of a company.

It is a major priority for ADO Properties S.A. to ensure that management and control are based on responsibility and sustainable value creation as well as openness and clarity in corporate communication. In the view of the Management Board, this approach is of significant importance for an increased transparency and for preserving and continuously enhancing the confidence of our shareholders, employees, customers, business partners and the public in the company’s management.

As a Luxembourg company listed solely on the Frankfurt Stock Exchange, ADO Properties S.A. is not subject to any specific mandatory corporate governance rules. Nevertheless, the company makes efforts to comply, to the extent possible, with the German corporate governance rules as set forth in the German Corporate Governance Code. The Management Board believes that this approach forms an essential basis for good and responsible corporate governance.

Senior Management

ADO Properties S.A. is led by the following senior management team:

Thierry Beaudemoulin, Co-CEO

Thierry Beaudemoulin Co-CEO

Thierry Beaudemoulin graduated from the Intitut d’Etudes Politiques de Paris, France in 1993 and obtained a master’s degree in real estate and urban planning from the same institution in 1995. From 1996 to 1998, Mr. Beaudemoulin was special advisor to the chief executive officer of Batigere. Between 1998 and 2000, he was head of property management at Foncia and held positions as asset manager and managing director France at ING REIM (Europe) between 2000 and 2004. From 2004 to 2006, Mr. Beaudemoulin was managing director for the Paris region at Batigere. Between 2006 and October 2019 he was chief executive officer at Covivio Germany and member of the executive board at Covivio.

Maximilian Rienecker , Co-CEO

Maximilian Rienecker Co-CEO

Maximilian Rienecker, born in 1985 in Hamburg, Master of Science in Management with honors from the University of Nottingham, took over the position of Co-CEO on April 9, 2020. Mr. Rienecker was Co-CEO of ADLER Real Estate AG since December 2017.
After successful stages in Sales & Marketing at ING Investment Management and in Corporate Strategy and M&A at SBM Offshore, Maximilian Rienecker can look back on more than six years of experience in the real estate sector.

Board of Directors

The company’s governance is set up as a one-tier structure managed by a Board of Directors which is currently composed of seven members.

Dr. Peter Maser (Chairman)

Professional Experience

Dr. Peter Maser is qualified to practice law in Germany and obtained his doctorate in law at the University of Tübingen, Germany. Between 1989 and 1995, he held various positions at audit firms and trust agencies and at Mediagroup Ebner. As of 1992, Dr. Maser practices as an attorney-at-law and was a partner at a law firm in Freiburg im Breisgau, Germany. Since 2003, he is a partner at Deloitte Legal Rechtsanwaltsgesellschaft mbH.

Directorships

Volksbank Stuttgart eG Vice chairman of the supervisory board Ongoing
BF.direkt AG Chairman of the supervisory board Ongoing
EURAM Bank AG Chairman of the supervisory board Ongoing
The Grounds Real Estate Development AG Vice chairman of the supervisory board Until August 2019
DEMIRE Deutsche Mittelstands Real Estate AG Vice chairman of the supervisory board Until February 2017

Thierry Beaudemoulin (Executive Director)

Professional Experience

Thierry Beaudemoulin graduated from the Intitut d’Etudes Politiques de Paris, France in 1993 and obtained a master’s degree in real estate and urban planning from the same institution in 1995. From 1996 to 1998, Mr. Beaudemoulin was special advisor to the chief executive officer of Batigere. Between 1998 and 2000, he was head of property management at Foncia and held positions as asset manager and managing director France at ING REIM (Europe) between 2000 and 2004. From 2004 to 2006, Mr. Beaudemoulin was managing director for the Paris region at Batigere. Between 2006 and October 2019 he was chief executive officer at Covivio Germany and member of the executive board at Covivio.

Directorships

Covivio SA Member of the executive board Until October 2019

Maximilian Rienecker (Executive Director)

Maximilian Rienecker, born in 1985 in Hamburg, Master of Science in Management with honors from the University of Nottingham, took over the position of Co-CEO on April 9, 2020. Mr. Rienecker was Co-CEO of ADLER Real Estate AG since December 2017.
After successful stages in Sales & Marketing at ING Investment Management and in Corporate Strategy and M&A at SBM Offshore, Maximilian Rienecker can look back on more than six years of experience in the real estate sector.

Directorships

ADLER Real Estate AG Member of the executive board Ongoing

Dr. Ben M. Irle LL.M. (Director)

Professional Experience

Dr. Ben Irle completed an apprenticeship as a publisher at Gruner & Jahr in Hamburg, Germany and London, United Kingdom, following which he completed his legal studies at the University of Hamburg and Birmingham, United Kingdom, including post-graduate studies in business law in Hamburg and an LL.M. degree from the University of Birmingham. Moreover, Dr. Irle holds a doctorate in law from the University of Hamburg. Between 2005 and 2011, he was founding partner at a law firm in Berlin, Germany. Thereafter, in 2012 and 2013, he was managing partner at Irle Kalckreuth LLP and as of 2014, managing partner at Irle Moser Rechtsanwälte PartG in Berlin. Since 2017, Dr. Irle is chairman of the supervisory board of Focus Hören AG (Hamburg) and since 2019, Dr. Irle is member of the board of directors of ADO Group Ltd. in Israel.

Directorships

ADO Group Ltd. Member of the board of directors Ongoing
Focus Hören AG Chairman of the supervisory board Ongoing

Arzu Akkemik (Independent Director)

Professional Experience

Arzu Akkemik holds a degree in international finance and accounting from the London School of Economics in London, United Kingdom. Ms. Akkemik started her career as an analyst at Barings Securities in London in 1993. From 1994 onwards, Ms. Akkemik worked in the practice areas of corporate finance and fund management in London. From 2005 to 2013, she was a director/senior fund manager at Rexiter Capital Management in London. In 2013, she founded Cornucopia Advisors Limited and Cornucopia Asset Management Limited.

Dr. Michael Bütter (Independent Director)

Professional Experience

Dr. Michael Bütter is qualified to practice law in Germany, holds a doctorate in law and graduated with a Master of Studies from the University of Oxford, England. Between 2001 and 2008, he worked at various law firms. From 2005 to 2008, Dr. Bütter was a partner at Hogan Lovells LLP. Between 2008 and 2013, he was, among others, the general counsel and chief compliance officer at Deutsche Annington SE (now Vonovia SE). From 2015 to 2018, he was a member of the executive board of Scout24 AG and chief executive officer of Immobilien Scout GmbH. Between 2016 and 2018, Dr. Bütter was a member of the advisory board and chief executive officer of Corestate Capital S.A.

Directorships

ASSMANN BERATEN+PLANEN AG Deputy chairman of the supervisory board Ongoing
RCIS Germany Member of the management board Ongoing
Realconnext.com Chairman of the advisory board Ongoing
Bots4YouGmbH Member of the advisory board and stakeholder Ongoing
TLG Immobilien AG Deputy chairman of the supervisory board Until 2019
Corestate Capital S.A. Member of the advisory board and
chief executive officer
Until 2018
Scout 24 AG Member of the executive board Until 2018
Immobilien Scout GmbH Chief executive officer Until 2018

Jörn Stobbe (Independent Director)

Professional Experience

Jörn Stobbe studied law at the University of Kiel, Germany, and completed his German law state examinations in 1995. Mr. Stobbe started his career at Landgesellschaft Schleswig-Holstein mbH in 1995. From 2000 to 2013, he worked at Clifford Chance. From 2013 to 2017, Mr. Stobbe was employed at RREEF Management GmbH. In 2017, he joined Union Investment Real Estate GmbH, where he currently serves as a member of the management board and Union Investment Institutional Property GmbH, where he also serves as a member of the management board.

Directorships

Union Investment Real Estate GmbH Member of the management board Ongoing
Union Investment Institutional Properties GmbH Member of the management board Ongoing
1. FC Köln KGaA Chairman of the advisory board Ongoing
Geneba Properties N.V. Member of the advisory board Until 2018
RREEF Management GmbH Member of the management board Until 2017

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