Following our ad hoc announcements yesterday and earlier this morning, Knaus Tabbert AG wishes to provide further details on the investigation by the public prosecutor and updates regarding the most recent decision by the Supervisory Board.
The Supervisory Board has been informed that two individuals within the company are currently subject to the ongoing investigation. As a result, the Supervisory Board has decided to terminate the contracts of Chief Operating Officer Werner Vaterl and Chief Sales Officer Gerd Adamietzki with immediate effect. Their direct reports will temporarily assume their operating responsibilities.
Regarding the investigation Knaus Tabbert is fully cooperating with the authorities. It is essential to emphasize that the company itself is currently not accused of any wrongdoing and is instead an injured party that has incurred damages. The extent of these damages remains under evaluation. We ask for your understanding that we are unable to provide any further information at early stage of the investigation.
This decision comes during a period of significant transformation. Recently, Wim de Pundert has taken on the dual role of Chief Executive Officer and Chief Financial Officer, marking a change of direction in the company’s journey. In alignment with these changes, we have already initiated efforts to further strengthen our leadership team. This unexpected event will accelerate these efforts.
We have initiated an internal review to identify any underlying causes that may have contributed to this situation. We are committed to implementing additional measures to prevent similar issues in the future, including the enhancement of internal processes and controls.
While this development is undoubtedly a challenge, it reaffirms our commitment to driving meaningful change within Knaus Tabbert and advancing the company’s strategic goals. We remain dedicated to shaping a robust and resilient organization, equipped to deliver on its vision for the future.