EQS-News

Passing of the baton at init SE’s Managing Board

EQS-News: init innovation in traffic systems SE / Key word(s): Personnel Passing of the baton at init SE’s Managing Board 08.04.2024 / 10:50 CET/CEST The issuer is solely responsible for the content of this announcement. Dr. Jürgen Greschner passes his position on to Martin Timmann

• Long-serving CSO steps down, but will remain in the group as Executive Director
• His successor tripled revenue at init subsidiary HanseCom within just a few years
• Seamless transition scheduled for the beginning of the 4th quarter 2024

There will be a change to the Managing Board of init innovation in traffic systems SE (ISIN DE 0005759807) on 1 October 2024. Dr. Jürgen Greschner (62), the long-serving CSO has expressed his desire to step down from the Managing Board on this date. His position will be taken over by Martin Timmann (56), the current CEO of HanseCom Public Transport Ticketing Solutions GmbH, Hamburg, a wholly owned subsidiary of init.

Dr. Jürgen Greschner has been responsible for sales at init since 2004, and played a decisive role in the successful internationalization of the company after joining the Managing Board in 2004. As the sole managing director, he built up INIT Innovations in Transportation Inc. in the United States, back in 1999. This company has since evolved into a major pillar of the group. More recently, with a deal for Atlanta, USA, init managed to seal the largest contract in the history of the company with a volume of over USD 100 million. Transport for London (TfL) also recently signed a deal of similar size for the renewal of its fleet management system. In addition, Jürgen Greschner has been the Deputy Chairman of the Managing Board of init SE since 2015.

“Under the leadership of Jürgen Greschner, our international breakthrough succeeded, and we now have a foothold in 14 countries spread across four continents. We owe him our enormous gratitude and are happy that he has decided to stay on the team at init,” says Chairman of the Supervisory Board, Hans‑Joachim Rühlig, about the services of Dr. Jürgen Greschner.