The Dax group wants to restructure its supervisory board so radically

Frankfurt Germany’s largest real estate group Vonovia wants to fundamentally reorganize its supervisory board in the shadow of a corruption scandal. The previously twelve-member body should therefore be reduced, receive new contract models and reassemble the cast.

Vonovia Supervisory Board Chairman Jürgen Fitschen and his designated successor Clara Streit presented their intentions for the first time a few days ago at an information event in front of international investors, as the Handelsblatt learned from groups of participants.

“The supervisory board should be younger, more female, smaller and a so-called staggered board,” said a person familiar with the situation. A “staggered board” divides executives into different groups whose contracts expire at different times. According to the plans, the changes are to take effect gradually from the upcoming general meeting in May of this year.