Covivio: Christophe Kullmann Reappointed, Aude Grant and Alexei Dal Pastro Named Deputy CEOs
On July 20, 2026, the Board of Directors of Covivio decided to renew Christophe Kullmann's term as CEO for another four years. Simultaneously, the real estate company appointed Aude Grant and Alexei Dal Pastro as Deputy CEOs, replacing Olivier Estève whose term ends on December 31, 2026.
Kullmann Reappointed Until the 2030 Financial Statements Approval
Under the chairmanship of Jean-Luc Biamonti, the Board of Directors of Covivio convened and decided to renew Christophe Kullmann's mandate for a four-year term, until the General Meeting that will approve the financial statements for the year 2030. This reappointment was made following a proposal from the Compensation and Nominations Committee.
Grant and Dal Pastro Promoted to Deputy General Managers
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Aude Grant, aged 45, will assume her role as Deputy CEO in charge of the French Office Activities starting September 21, 2026. A graduate of HEC, she has held various positions at Covivio, including analyst, portfolio and acquisitions manager, and Director of Asset Management and Office Investments, before joining SFL in 2014 as Director of Real Estate Strategy and Transactions. She was appointed Deputy CEO in 2022 and CEO of SFL in 2024. Alexei Dal Pastro, aged 53, currently CEO of Covivio's Italy & German Offices, will begin his role as Deputy CEO on January 1, 2027. He holds a degree in Economics and Management from the University of Trento and an MBA from the University of Kansas, and has led Covivio Italy as CEO since 2019, a role that was expanded in early 2024 to include the German offices.
Departure of Olivier Estève After 24 Years
The outgoing Deputy CEO, Olivier Estève, will leave his position on December 31, 2026, after 24 years with the group. The Board of Directors expressed their gratitude for his contributions to Covivio's growth.
Covivio confirme son objectif de résultat net récurrent (EPRA Earnings ajusté) par action 2026, en hausse d'environ +4 %
Risks mentioned
Hausse des taux d'intérêt impactant le coût du financement
Incertitudes politiques affectant les marchés d'investissement immobilier
Liquidité limitée sur les marchés de l'investissement immobilier
Opportunities identified
Accélération de la croissance des revenus à périmètre constant à +2,7 %
Pipeline de redéveloppement hôtelier de 12 projets représentant 138 M€ de capex avec rendement moyen attendu de 13 %
Signature de contrats de gestion hôteliers avec Generator et IHG pour transformations bureaux-hôtels
Outlook / guidance
Management commentary: Covivio continues to confirm its 2026 guidance of around 4% growth in recurring net result (adjusted EPRA Earnings) per share.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
