Munich, July 30, 2014 – Dr. Alexander Blum, the Chief Financial Officer of Gigaset AG, today informed the Supervisory Board that he will terminate his contract of employment by the due date effective December 31, 2014. Dr. Blum will fully discharge his duties until the end of the year so that a successor can be appointed and become familiarized with the tasks. That will ensure a smooth handover.
Dr. Blum has been with Gigaset in an executive position since 2008 and was appointed Chief Financial Officer in 2011. Bernhard Riedel, Chairman of the Supervisory Board, thanked Dr. Blum: "Dr. Blum has performed outstanding service for Gigaset AG. He has helped run and shape the company in an extremely challenging phase of restructuring. The Supervisory Board greatly regrets his decision to tackle new tasks and wishes his all the best for the future."
Charles Fränkl, Gigaset's CEO, also expressed his utmost respect for Dr. Blum: "Dr. Blum played a prominent part in helping us successfully find a new strategic investor. The crucial capital measures in 2013 and 2014 and successful talks with the syndicate banks secured the funds the company needed for its restructuring at all times. As a result, he laid an important foundation for enabling Gigaset to grow profitably again."
Dr. Blum thanks the Executive Board and Supervisory Board for the at all times fair and conducive working relationship. "The fact that a strategic investor has taken a stake in the company and all banks debts have been ultimately repaid means that Gigaset has successfully overcome an extremely demanding phase in its restructuring. The company can now embark on its next phase on a new foundation that gives it new options for its further financing. After six exceptionally exciting years at Gigaset, I feel this is the logical time and juncture to tackle new challenges as of 2015," is the reason Dr. Blum gives for his decision.
Gigaset AG, Munich, is an internationally operating company in the area of communications technology. The Company is Europe's market leader in DECT telephones. The premium supplier is likewise the leader worldwide with around 1,400 employees and sales activities in around 70 countries. Under the name Gigaset pro, the company continues to develop and market innovative business telephony solutions for small and medium-sized enterprises. The company also operates in the smart home arena. Cutting-edge, cloud-based products and solutions for the smart home are developed and marketed under the name Gigaset elements.
Gigaset AG is listed on the Prime Standard of Deutsche Börse and is therefore subject to the highest requirements for transparency. Its shares are traded on the Frankfurt Stock Exchange under the symbol 'GGS' (ISIN: DE0005156004).