- Push-out Score determined
- After 18 years in the position
- James Freis taking over in the interim
(exechange) — Aschheim, Germany, June 19, 2020 — Markus Braun, chief executive of Wirecard, leaves — “in mutual consent with the Supervisory Board.” As announced by Wirecard AG in a regulatory statement published on Friday, June 19, 2020, Markus Braun leaves his post as chief executive officer at the German payment processor and financial services provider after 18 years in the role, effective immediately.
It is the end of an era.
The announcement of Markus Braun’s move comes five months after Thomas Eichelmann took over as Chairman of Wirecard AG.
Markus Braun’s duties as CEO will be taken over in the interim by James H. Freis, a former Managing Director of Deutsche Bӧrse Group, as interim Chief Executive Officer.
No reason given
In the announcement, Wirecard did not explicitly explain the reason for Markus Braun’s move.
Precise information regarding Markus Braun’s future plans was not immediately available.
Wirecard said: “In mutual consent with the Supervisory Board of Wirecard AG, Dr. Markus Braun resigned today with immediate effect as member of the management board.”
Share price decline
The announcement follows a decline in Wirecard AG’s share price of 62% since June 17, 2020.
Chaired by Thomas Eichelmann
Wirecard AG is chaired by Thomas Eichelmann.
Thomas Eichelmann has been a member of the Supervisory Board of Wirecard AG since mid-2019. On January 10, 2020, he was unanimously elected by the Supervisory Board as its new Chairman.
In the position of CEO since 2002
Markus Braun became CEO of the Company in 2002.
His bio reads as follows:
Born in 1969, Austrian, appointed as board member until December 31, 2020
Member of the Management Board, Wirecard AG, Munich
e-Strategy Project Manager, KPMG Consulting AG, Munich
Senior Consultant, Contrast Management Consulting GmbH; Vienna, Strategy and Strategic Controlling segment
Doctorate in Social and Economic Sciences, University of Vienna
Research Assistant, Institute for Applied Computer Science, University of Vienna
Technical University of Vienna, degree in Commercial Computer Science
Secondary activities and memberships
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Wirecard and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 25.2020 ($).