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Wolfgang Clement on the Supervisory Board of Deutsche Wohnen AG

DGAP-News: Wolfgang Clement on the Supervisory Board of Deutsche Wohnen AG

Deutsche Wohnen AG / Key word(s): Change of Personnel
07.07.2011 / 13:04

Frankfurt/Main and Berlin, 7 July 2011. The District Court of Frankfurt has appointed Wolfgang Clement, Federal Minister (retired) and Minister-President (retired), to the Supervisory Board of Deutsche Wohnen AG with immediate effect. Following the departure of Hermann T. Dambach - effective as of 30 June 2011 - the Supervisory Board of Deutsche Wohnen AG consisted for a brief period of only five members. The board is now complete again.

Wolfgang Clement: 'The housing industry is extremely important for the German economy because 52% of the capital stock of the economy as a whole - or, to put it another way, 4 trillion euros - is invested in the country's 39 million apartments. Efficient residential property markets are a location advantage in international competition. They are also important for an efficient financial system. For this reason, I am very pleased to be joining - according to my knowledge - the Supervisory Board of one of the best-positioned companies in this important sector. In my opinion Deutsche Wohnen AG has a solid, growth-oriented business model. It has convinced the financial markets and, at the same time, assumes proper responsibility for the social good that is housing.'

Wolfgang Clement, who was born on 7 July 1940 in Bochum, was Minister-President of North Rhine-Westphalia from 1998 to 2002. In 2002 he joined Gerhard Schröder's cabinet and was Federal Minister for Economic Affairs and Employment until 2005. After completing his legal studies at the end of the 1960s Wolfgang Clement initially embarked on a career as a journalist. From 1981 to 1986 he was the spokesperson for the national executive committee of the SPD, and from 1985 to 1986 the deputy secretary-general of the party as well. In 1989 the then Minister-President of North Rhine-Westphalia, Johannes Rau, appointed him as Head of the State Chancellery: from July 1990 he held this office with the status of minister without portfolio. From 1995 to 1998 he was Minister for Economic Affairs, Small and Medium-Sized Enterprises, Technology and Transport. Since 1993 he was a member of the parliament of North Rhine-Westphalia; in 1996 he became the deputy leader of the SPD regional executive committee and in 1999 the deputy leader of the national party.

Wolfgang Clement is an author and freelance columnist and a member of various supervisory boards, boards of trustees and advisory committees of national and international companies and academic institutions. He is also the deputy chairman of the Frankfurter Zukunftsrat (an advisory council on social, economic and cultural policy).Besides he is impartial chairman of the central conciliation service for the German construction industry. Wolfgang Clement is married with five daughters and lives in Bonn.
Michael Zahn, CEO of Deutsche Wohnen AG: 'We are very pleased to have secured Wolfgang Clement as a member of the Supervisory Board. With his extensive experience of politics, the media and the economy he will contribute very special skills and ideas. It is a good signal for the housing sector that a figure such as Wolfgang Clement is taking up a post in a publicly listed residential property company. The private housing industry has to build stronger links to all relevant social and political groups if its significance is ultimately to be valued long-term.'
Deutsche Wohnen
Deutsche Wohnen is Germany's second-largest listed residential property company with a business focus on managing and developing its residential property portfolio. The portfolio comprises 47,536 units in total, of which 47,095 are residential units and 441 are commercial properties. The Company has 81.84 million shares listed in the Deutsche Börse's MDAX and is also included in the leading indices EPRA/NAREIT and GPR 250.

+49 (0)30 / 89786 - 551 

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07.07.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
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Language: English Company: Deutsche Wohnen AG Pfaffenwiese 300 65929 Frankfurt Deutschland Phone: +49 (0)30 89786-0 Fax: +49 (0)30 89786-507 E-mail: Internet: ISIN: DE000A0HN5C6, DE0006283302 WKN: A0HN5C, 628330 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart  
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