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Financial center irritated: Why the resignation of the Flatexdegiro boss raises questions
Major shareholder Förtsch is intensifying his fight with broker Flatex. The withdrawal of the CEO and uncertainty about succession are causing tension. New developments in shareholder feud. #Flatex #BerndFörtsch #shareholder dispute
Financial center irritated: Why the resignation of the Flatexdegiro boss raises questions
There was some confusion when Flatexdegiro announced the sudden retirement of long-time CEO Frank Niehage. The supervisory board had already begun the search for a successor and planned to appoint a new CEO soon, although Niehage's contract ran until June 2025. There has been speculation that Niehage may train a successor for a year, although a contract extension could only be offered a year before the contract ends. Nevertheless, the supervisory board felt compelled to launch an informal search in order to be prepared for all eventualities.
Arno Walter, former CEO of the direct bank Comdirect, is considered a potential candidate for the chairmanship of Flatex. However, Matthias Hach will not aim to return to Flatex. The search for a successor is made even more difficult by the fact that the future of the chairman of the supervisory board, Martin Korbmacher, is uncertain. Förtsch, a major shareholder in Flatex, is apparently trying to destabilize Korbmacher through public attacks, thereby setting off a public feud.
The upcoming general meeting on June 4th could be a crucial phase for Flatex, as it is unclear whether Korbmacher will remain in office and what majorities Förtsch could mobilize. The situation at Flatex is becoming increasingly complex due to Förtsch's obvious efforts to exert influence. Nevertheless, the question of the company's stability and future leadership, particularly in light of the current disputes, remains open and is generally viewed as challenging.