Gerchgroup Complete Executive Board appointed for the long term

Düsseldorf, 07 June 2021: At its Supervisory Board meeting on 14 April 2021, Gerchgroup appointed Marc K. Thiel (Chief Transaction Officer), Dominique Gutsmann (Chief Debt Officer) and Alexander Pauls (Chief Development Officer) to the Management Board for a further five years, until 2026. The Chairman of the Executive Board, Mathias Düsterdick, and Christoph Hüttemann as his deputy were confirmed in their offices at the same meeting.

Following the recent appointment of Prof. Dr. Wolfgang Schuster as Chairman of the Supervisory Board, the early extension of the Executive Board contracts is another positive development at the management level of the company.

This decision is based, on the one hand, on the good work of the Executive Board in the past years and, on the other hand, on the goal of the shareholders who want to further strengthen the company and keep it competitive through long-term continuity in the top management.

Mathias Düsterdick, Chairman of the Executive Board of Gerchgroup AG: "Despite the corporate form of a public limited company, we see ourselves as a family-run company and, in addition to respect, trusting each other and the staff is very important to us. We are convinced that with this step we have prepared the company well for the future and for any challenges that may arise."

Marc K. Thiel, Dominique Gutsmann and Alexander Pauls joined Gerchgroup AG as members of the Management Board in 2019, but they can already look back on a long collaboration with Gerchgroup's founders, Mathias Düsterdick and Christoph Hüttemann. Dominique Gutsmann and Alexander Pauls had been working in the teams of the Düsseldorf entrepreneurs since 2013 and 2014 respectively, at the time at PDI Property Development Investors. Alexander Pauls was part of the founding team of Gerchgroup in 2015 and Dominique Gutsmann followed after one year. Marc K. Thiel has been a trusted partner of Mathias Düsterdick and Christoph Hüttemann for over 15 years.

Marc K. Thiel, Dominique Gutsmann and Alexander Pauls: "We would like to thank the supervisory board and especially Mathias Düsterdick and Christoph Hüttemann for the trust they have placed in us and for the good and always very pleasant cooperation. We want to strengthen the company in the long term and look forward to proving this for another five years."

Gerchgroup is a nationwide project developer based in Düsseldorf. The company was launched by Mathias Düsterdick (CEO) and Christoph Hüttemann (CFO) at the end of October 2015, after both had previously sold their shares in the PDI Group. At the end of 2020, Marathon Beteiligungs GmbH, founded in 2008 by the Düsterdick and Hüttemann families, acquired all shares in Gerchgroup . In the course of this, the Swiss SN Beteiligungen AG of the Ketterer family left as a shareholder. With now 7 project developments, the Gerchgroup is currently realising a total volume of around 3 billion euros throughout Germany. Further project acquisitions are planned in the short term.

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