Finance
Vonovia to swap out CEO as it recovers from German property slump
Published by Global Banking & Finance Review®
Posted on May 7, 2025
2 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on May 7, 2025
2 min readLast updated: January 24, 2026
Vonovia appoints Luka Mucic as CEO to recover from a German property slump, succeeding Rolf Buch by 2025.
DUESSELDORF (Reuters) -Vonovia, Germany's largest landlord, is swapping out its long-serving chief executive as it seeks to recover from an industry-wide real estate slump.
The company said late on Tuesday that the technology executive Luka Mucic would succeed Rolf Buch as Vonovia's CEO by the end of 2025 in a "mutually agreed" contract termination.
The swap in leadership at Germany's top-listed property company comes after three consecutive years of losses adding up to more than 8 billion euros ($9.08 billion).
The nation's property sector has been mired in its worst crisis in decades, marked by insolvencies, stalled sales, falling prices and a decline in construction jobs.
Buch, one of the most prominent individuals in Germany's property industry, has been at Vonovia's helm for more than 12 years.
Mucic has been the finance chief of Vodafone since 2023. Previously, he was finance chief and chief operating officer at the German tech giant SAP, Germany's most valuable company.
Buch has forecast better times ahead, predicting a return to net profit in 2025 with a stabilization of property values.
The company's first-quarter figures, also published late on Tuesday, showed a 15% increase in adjusted pretax profit to 479 million euros.
($1 = 0.8815 euros)
(Reporting Matthias Inverardi in Duesseldorf, Anusha Shah in Bengaluru and Tom Sims in Frankfurt; editing by Alan Barona, Rachel More and Rashmi Aich)
The main topic is Vonovia's CEO change amid efforts to recover from a German property slump.
Luka Mucic will become the new CEO of Vonovia by the end of 2025.
Vonovia is dealing with a property market crisis, including insolvencies and falling prices.
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