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Press Release of Aareal Bank AG

Dr Manfred Alflen (61), Chairman of the Management Board of Aareon AG, has announced that he will retire from the operating business with effect from 31 March 2022.

Aareon CEO Dr Manfred Alflen has announced his retirement from the operating business in March 2022 – Hartmut Thomsen to take over as Chairman of the Management Board

Wiesbaden/Mainz, 13 January 2022 – Dr Manfred Alflen (61), Chairman of the Management Board of Aareon AG, has announced that he will retire from the operating business with effect from 31 March 2022. Aareon AG’s Supervisory Board has appointed Hartmut Thomsen (50) as Dr Alflen’s successor, effective 1 April 2022. Mr Thomsen will join Aareon from SAP.

“Having served in Aareon’s top management team for 20 years, I am now looking to devote more time towards personal interests, dedicating myself to things I have not found sufficient time for during Aareon’s swift and successful growth. I will remain close to Aareon, but no longer wish to be engaged in its operating business. That is why I have asked the Supervisory Board to seek a successor. I am delighted that with Hartmut Thomsen, we have found the right person to write the next chapter in Aareon’s success story,” Dr Alflen said. As a member of Aareon’s Advisory Board, which was established in December 2020, Dr Alflen will continue to shape Aareon’s strategic development going forward.

Under Dr Alflen’s leadership, Aareon has evolved into the leading provider of ERP software and digital solutions for the European property industry and its partners, with more than 4,000 clients and 2,000 employees – with a current international presence across nine countries. The software company is a subsidiary of Aareal Bank AG, which holds a 70 per cent stake in Aareon; the remaining 30 per cent being held by Advent International.

Hartmut Thomsen has been working for SAP for more than ten years. Since June 2018, he has held the position of President, Middle and Eastern Europe, with responsibility for sales and client activities in more than 30 countries. Previous positions included Managing Director of SAP Deutschland SE & Co. KG, a role he performed for several years, as well as Chief Operating Officer; he was also responsible for establishing SAP cloud services in Central and Eastern Europe. As an expert for digital transformation, technologies, and for the market launch of products and services, he has made a significant contribution to SAP’s sales performance. Prior to joining SAP, he held executive positions at IBM, Oracle, and Siemens Nixdorf.

Hartmut Thomsen commented: “The property sector – and especially the housing industry – are large and dynamic markets. I look forward to continuing to drive the digital change in these industries. Thanks to Manfred Alflen, Aareon looks back on an impressive growth path over recent years. Further accelerating this development is an exciting challenge that I am very much looking forward to.”

Jochen Klösges, Chairman of Aareon’s Supervisory Board, said: “I am delighted that with Hartmut Thomsen, we have succeeded in attracting a renowned expert for digital growth. I look forward to the new impulses he will contribute for the further expansion and digitalisation of our business. At the same time, I would like to sincerely thank Dr Manfred Alflen for the excellent cooperation. He has overseen a truly impressive performance at Aareon, with the Company evolving into the leading software player in the European property industry. On behalf of the entire Supervisory Board, I would like to express our heartfelt thanks to Dr Alflen and his team. We are pleased that he will remain close to the Company, and that we will be able to continue working with him on our Advisory Board.”

Contact persons

Margarita Thiel

Phone: +49 611 348 2306
Mobil: +49 171 206 9740

Yannick Houdard

Phone: +49 611 348 2462
Mobil: +49 (0) 171 226 7155

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