Wirecard-chief brown is retiring: I don't want to burden those future

a quarter of the balance sheet total is apparently gone, has now cost Wirecards the chief Executive officer of his Post. Markus brown resigns with immediate eff

Wirecard-chief brown is retiring: I don't want to burden those future

a quarter of the balance sheet total is apparently gone, has now cost Wirecards the chief Executive officer of his Post. Markus brown resigns with immediate effect, in agreement with the Supervisory Board, the company said on Friday noon. Interim chief of yesterday, the Board of management drew James Freis is now. In view of the growing accounting fraud before more investors had demanded the resignation of brown. On the news of the withdrawal point Wirecards share price recovered slightly, listed but still 25 percent in the Minus.

brown has left in Distress with the group according to his words, of his own accord. Wirecard have an excellent business model, superior technology and sufficient resources for a great future, wrote brown on Friday in an English personal statement, to employees and shareholders. "I don't want to burden the future." He informed the Chairman of the Supervisory Board in the morning about his decision. "With my decision, and I respect the fact that the responsibility for all business transactions at the CEO."

already member of the Board, Jan Marsalek, who is responsible for the obscure third-party partners-the business of Wirecard, which appeared to 1.9 billion euros, without a trace disappeared was divorced, from office. Marsalek was regarded as a puppet master, he has a thread in the Asia business ran together, he was also responsible for the responsible for the accounts of a Trustee, should be stored on which of the billions of the amount. However, the documents from the March 2020 were apparently wrong. Therefore, the auditor of EY, the Wirecard-balance refused to report. Wirecard investors requested that the investigating Prosecutor's office in Munich had to be employed. The trail leads to Asia, and here in the Philippines.

the descent from the Dax seems to be possible

the payment service provider Should slip in view of the scandal now, even in bankruptcy, it could also have tangible impacts for consumers to load funds to: Wirecard the credit card handles, among other things, payments for Aldi. Aldi, according to a speaker with Wirecard in order to clarify the facts of the case. "However, we ask for your understanding that we do not comment on speculation," he said on the F. A. Z.'s request.

brown has long been regarded as irreplaceable as he was the strategic Mastermind behind Wirecard. The 51-year-old Austrian had done from the Start-up company, made after the collapse of the New Economy, first of all Online payments for the Porn and gambling industry within two decades, an international payment provider. Wirecard was considered the most successful German entrepreneur's story. Highlight the rise in the Dax in the autumn of 2018 was – ever since it went down.

The Chairman of the Board had always given the impression that the long-simmering suspicion against Wirecard is nothing to it and sooner or later it all cleared up let last Thursday night in a Video, after the group had to move for the fourth Time in its annual financial statements. In other companies brown as the boss, would have flown well out much earlier. As the Problem was not, however, that he is only 7 per cent of the shares the largest single shareholder of their own company, but also the irreplaceable strategist.

WIRECARD -- -- (--) Xetra tradegate London SE Int. Level 1Lang & Schwarz, Stuttgart, Frankfurt, Switzerland OTCWienSchweiz 1T 1W 3M 1J 3J 5J For detail view

Therefore, observers saw the of the German stock exchange, the come and as a assertive Cleaner applicable Chairman of the Supervisory Board Thomas Eichelmann in a quandary. On Friday notified the Absence of 1.9 billion euros in the balance sheet of Wirecard, the Philippine fiduciary accounts would have to be, is likely to have given to the Chairman of the Board, now the Rest. How to do it with the company, however, is, of course, more open. On the market insolvency of the payment service provider is played by a descent from the Dax appears to be possible.

Updated Date: 20 June 2020, 02:19

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