Tipp24 Supervisory Board Without Chairman

Jaenecke resigns

These days, Tipp24's Executive Board received a resignation from their Supervisory Board Chairman Klaus F. Jaenecke, which will enter into force on the completion of the 2011 AGM.

During Jaenecke's chair, the company saw significant progress, considering the severity of market conditions and regulations, and noted four times higher revenues and almost five times higher EBT.

The decision to leave Tipp24 resulted from the fact that Jaenecke intends to pursue certain personal plans but also from his firm belief that 'regular change within the Board complies with the principles of good governance provided a balance is found between renewal and continuity.'

Tipp 24 CEO Dr. Hans Cornehl, said in this commend of Jaenecke's decision: 'We deeply respect and regret the decision of Klaus Jaenecke to retire from the Supervisory Board of Tipp24. Mr. Jaenecke proved a reliable and competent partner for our company in dynamic growth phases as well as in periods of profound change. The Executive Board would like to express its sincere gratitude for the excellent cooperation.'

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