Joint founder of Tipp24 resigns


Joint founder Schumann leaving for personal reasons

Jens Schumann, joint founder and chairman of German online lottery operator Tipp24 AG is to leave the company for personal reasons at the end of September 2009, the company announced this week.

Schumann's departure is an amicable one according to both parties, and he will continue to provide consulting services to the company as required. He will be succeeded by Hans Cornehl, who has served on the executive board of the company for over seven years.

'Since the foundation of Tipp24 as a classic Internet start-up ten years ago, my colleagues and I have led the company through highs and lows prior to our admission to the SDAX index,' said Schumann.

'Despite the legal uncertainties of the past few years, Tipp24 is now well equipped for the future as demonstrated, for example, by the positive development of our business in the first half of 2009. I have achieved my personal targets for Tipp24. However, I will continue to be available for advice and will remain in close contact not least in my capacity as a major shareholder.'

According to Tipp24 sources, Schumann has devoted much of his time over the past three years to lobbying and dealing with legal disputes in connection with the new State Treaty On Gaming in Germany . These responsibilities have been taken over by Magnus Von Zitzewitz.

'Since the foundation of Tipp24 in September of 1999, Jens Schumann has successfully led and shaped the company,' said Klaus Jaenecke, chairman for Tipp24's Supervisory Board. 'We wish him all the best in his private life and as much success with his future business ventures as he enjoyed with Tipp24.'

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