The Supervisory Board and the CEO of GRENKE AG, Michael Bücker, 61, whose appointment had been revoked for a limited period until 28 February 2023 for health reasons, have agreed that Bücker will leave GRENKE on 28 February this year, the company said in a statement.

The Supervisory Board has appointed interim CEO Sebastian Hirsch, 41, as CEO as of 16 February. Hirsch will continue his duties as CFO on an interim basis. Martin Paal, 43, who has been VP Controlling at GRENKE AG since June 2022, is to take over as the lead of the finance division after a transition and familiarisation phase. He will act as Hirsch’s deputy for the finance division with immediate effect.

Prof Dr Ernst-Moritz Lipp, Chairman of the Supervisory Board of GRENKE AG, said: “The Supervisory Board would like to thank Mr Bücker for his work and extraordinary commitment during a phase of adapting the business organisation to the regulatory requirements for the German and international business.

“With his experience and reputation, Mr Bücker has repositioned the Company and steered it back to its growth path. Sebastian Hirsch, as the new CEO, will provide the continuity and strategic impetus the Company needs to continue its double-digit and profitable growth.”

Michael Bücker: “It has given me great pleasure, as CEO, to have contributed to leading GRENKE AG out of a difficult phase, restoring it to its former strength, and developing a new perspective for the future.

“Now is the right time to hand over the helm to the younger generation. I would like to thank the Supervisory Board, my colleagues on the Board of Directors, and all employees for their successful cooperation. I wish them all and GRENKE AG all the best for the future.”

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