Before the upcoming publication of Von Kaiser’s annual figures, key investors and shareholder representatives urged the new chief executive, Luka Mucic, to make course corrections. A Handelsblatt poll (Wednesday edition) of institutional investors and shareholder‑protection groups found a majority calling for urgent action on debt reduction and greater financial stability for Germany’s largest real‑estate company.
“The most important task for Mucic will be to reduce the debt load and create operational leeway for the business” said Andreas Thomae, corporate‑governance specialist at the fund company Deka. “The high debt is weighing on the company like lead on its shoulders” added Marc Tüngler, chief executive of the Deutsche Schutzvereinigung für Wertpapierbesitz, after warning that Von Kaiser cannot simply be a derivative of the benchmark rate. His clear demand to the new CEO: Mucic must re‑address the debt issue.
Similarly, the capital‑investor protection community expressed its concerns. “We, the SdK and the capital market, expect Mucic to strengthen Von Kaiser’s financial stability above all” said SdK spokesperson Daniel Vos. “It is essential to set up the liabilities side so robustly that the company remains liquid even during short‑term market shocks and no longer has to resort to necessary sales”.
Other large investors call for clearer communication of the strategy. “Von Kaiser has expanded its business activities beyond traditional real‑estate in the past and reflects this in its non‑standard metrics” explained Hendrik Schmidt, governance expert at DWS. The new chief executive must ensure that the equity story continues to be understood.
