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DGAP-News: FinLab AG / Key word(s): Personnel
Frankfurt/Main, 21.04.2021 - At its meeting today, the Supervisory Board of Finlab AG (ISIN DE0001218063) decided, in agreement with the Management Board, that the two members of the Management Board, Juan Rodriguez and Stefan Schütze, will terminate their Management Board activities as of April 30, 2021. The reason for the resignation of the Management Board is the planned realignment of FinLab AG and Heliad Equity Partners GmbH & Co. KGaA by the major shareholder Bernd Förtsch. Juan Rodriguez and Stefan Schütze are in advanced discussions to manage the FinLab EOS VC Fund with a separate company in the future to provide important continuity in the management of the blockchain portfolio companies.
Juan Rodriguez: "Since the change of name to FinLab AG and the associated change of strategy in 2014, the financial performance of the company has developed very well. For example, we were able to develop the share price from around EUR 2.50 at the time to as much as EUR 30 in some cases, thus achieving an extraordinary performance for shareholders. But not only the share price increased significantly, we were also able to increase the NAV from around EUR 4.00 to EUR 32.00 during this time, which is also a very good result."
Stefan Schütze: "FinLab has earned a good reputation as a financial investor for fintech and blockchain startups in Germany. Since 2014, the board has placed emphasis on a broadly diversified portfolio and has excelled especially as an early-stage investor. For startups, it was not only the financial commitment that was important, but also the network that FinLab has. With the planned realignment of FinLab AG, as well as Heliad Equity Partners, my colleague and I have decided to leave the company by mutual agreement in order to be able to implement the new strategy with new people. However, we will remain connected to the fintech and especially the blockchain world and will dedicate ourselves to the management of funds in the future with our own company.
Axel Benkner, Chairman of the Supervisory Board of FinLab AG: "I would like to thank the Management Board team Juan Rodriguez and Stefan Schütze for their successful work. They leave behind a very well positioned and financially sound company. Both are closely linked to FinLab's strategic direction towards becoming a leading early-stage investor for German fintech and blockchain startups and providing venture capital for their funding needs."
About FinLab AG:
21.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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