CEO of Germany's Wirecard quits after annual report delayed
The chief executive of German payment service provider
Wirecard AG resigned on Friday, a day after the company announced that it was
postponing its annual report again and its shares plummeted.
Wirecard said in a brief statement that Markus Braun
resigned with immediate effect “in mutual consent” with the company's
supervisory board. James Freis, who was appointed to the management board on
Thursday, was named as interim CEO.
Wirecard’s share price nosedived on Thursday after the
Munich-based company said it was informed by auditors that an escrow account
containing 1.9 billion euros ($2.14 billion) didn’t have the necessary
certificate.
Braun said on Thursday that it was “currently unclear
whether fraudulent transactions to the detriment of Wirecard AG have occurred.”
He said that Wirecard “will file a complaint against unknown persons.”
Once seen as a stellar example of Germany’s tech industry,
Wirecard has been battered by allegations of financial irregularity in recent
years. The company has hit back by claiming that its share price was being
intentionally manipulated by speculators.
Comments
Post a Comment