GRENKE AG / Key word(s): Personnel
Mark Kindermann resigns from the Board of Directors of GRENKE AG
The preliminary assessments made in the course of the ongoing audits are critical of previous internal processes in the compliance organisation and Internal Auditing department. Mr. Kindermann has pointed out to the Supervisory Board that it will be necessary to revise the preliminary assessments once the audits have been completed. Mr. Kindermann decided to resign from his mandates today to avoid any dispute prior to completing the audit with regard to the justification or materiality of these criticisms and to prevent any potential damage therefrom to the Company.
The Supervisory Board would like to thank Mr. Kindermann for his many years of service as a member of the Board of Directors and for his support in assigning the Internal Audit function to the CEO and in appointing a Chief Risk Officer to be responsible for all compliance functions of the Company. The swift continuation and completion of the audits remain a top priority for the Company.
The Supervisory Board will decide shortly on the reassignment of the responsibilities on the Board of Directors. Until that time, the rules on deputisation will apply.
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Information and Explanation of the Issuer to this News:
Founded in 1978 in Baden-Baden, the Company operates in 33 countries and employs more
08-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Neuer Markt 2
+49 (0)7221 50 07-204
+49 (0)7221 50 07-4218
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
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