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Dortmund, 25.11.2019

Stefan Riedel joins adesso AG as additional Executive Board member

25.11.2019 / 07:30
The issuer is solely responsible for the content of this announcement.

The Supervisory Board of adesso AG has appointed Stefan Riedel to the company's Executive Board effective as at 1 January 2020. The increase in the number of Executive Board members comes against the backdrop of accelerated growth and further internationalisation of the adesso Group. Riedel arrives from IBM Deutschland, where he was responsible for the group's insurance operations across Europe as Vice President Insurance Europe.

In his new position on the Executive Board, Riedel (52) will take responsibility for the core segment insurance. Riedel will also be responsible for the subsidiary adesso insurance solutions GmbH, where adesso insurance product business is bundled. CEO Michael Kenfenheuer (61) will be focusing on the Banking/Financial Services Providers department moving forward. Kenfenheuer had previously headed up and successfully developed the two departments, which generate the highest sales at adesso.

Thanks to his many years spent as the chief representative for insurance business at IBM Deutschland GmbH - first as the Vice President in German-speaking markets (DACH) and subsequently as Vice President Europe - the qualified computer scientist was top of the list of potential candidates for CEO Michael Kenfenheuer.

Prof. Dr Volker Gruhn, Chairman of the Supervisory Board of adesso AG as well as the co-founder and majority shareholder of the company, is delighted by the appointment: "Stefan Riedel is a successful and acclaimed manager with outstanding technological expertise and a wealth of experience in the industry. As a pioneering visionary in the field, he understands IT in the insurance industry as a holistic system and knows how to maximise its benefits to the company."

The new adesso Executive Board member is excited about the switch from his position at a global corporation such as IBM, where he has worked since completing his traineeship: "I am hugely looking forward to contributing my expertise and the wide variety of experiences at IBM in such an innovative, young and successful team and continuing adesso AG's growth story."

adesso Group
With about 4,000 employees and annual sales of EUR 375.65 million in 2018, adesso Group is one of the largest German IT service providers and has outstanding opportunities for growth. At its own locations in Germany, other locations in Europe, Turkey and the USA as well as at numerous local customers adesso offers consulting and software development services for optimising core business processes. adesso also offers ready-to-use software products for standard applications. The development of an own, industry-specific product-portfolio opens up additional growth and earnings opportunities and is another key element of the adesso strategy. In 2016 and 2018 adesso was awarded the title of Best IT Employer in Germany.

Martin Möllmann
Manager Investor Relations
Tel.: +49 231 7000-7000

25.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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