Auden AG: Management Board files motion for court appointment of Supervisory Board members
Berlin – 10. August 2017
The Management Board of Auden AG, the Berlin-based investment company, filed a motion at the start of this week for the District Court of Potsdam to appoint three members of its Supervisory Board, in accordance with sec. 104 para. 1 of the German Stock Corporation Act (Aktiengesetz). The three proposed new members are Alexander Wegner, Prof. Dieter Benatzky and Christian Frenko. These individuals, described below, were identified and examined through a selection process involving key shareholders of Auden AG, then approached regarding their potential candidacy. Each of the three has agreed to be named to the Supervisory Board of Auden AG with immediate effect, and thus the decision on the special appointments now rests with the District Court of Potsdam, to be announced in the coming days.
As a Chartered Financial Analyst (CFA) charterholder and DVFA-certified Investment Analyst (German Society of Investment Professionals), Alexander Wegner brings extensive capital markets knowledge, particularly in the areas of financial statement and investment analysis, as well as a varied and international career in asset and wealth management, including many years with Deutsche Bank in Frankfurt and New York and with ABN AMRO Group in Germany and Switzerland. As head of asset management over many years, he brings proven expertise in managing significant client assets across all asset classes. Among his core competencies are investment processes and timely risk management for both liquid and illiquid assets. Mr. Wegner, a venture founder in the world of “ecosystem intelligence”, meaning networks of experts and entrepreneurs, knows the German start-up scene intimately – and thus likewise the core business of Auden AG. He currently serves as chief investment officer for a renowned family office, in addition to his own advisory and entrepreneurial activities. Mr. Wegner holds personal investment stakes in a number of different start-ups, and his direct knowledge of Auden’s target market will be of particularly great value and relevance.
Prof. Dr. Dieter Benatzky is senior professor of business administration at the Rosenheim University of Applies Sciences, as well as an honorary member of the University Senate. With his specialisation in marketing, he assists companies with the development of brands, products and sales strategies. Prior to his academic career, Professor Benatzky was head of marketing at Celesio AG (formerly Gehe AG), which has since become part of U.S. healthcare giant McKesson Corporation. His years of management experience in a multinational group as well as his academic expertise in marketing will serve as a tremendous asset to Auden AG in examining investment opportunities and in managing and building its existing portfolio.
Christian Frenko brings a broad base of experiences over many years as a media and investment executive, as well as a superb network of contacts. Over the past year and a half, Mr. Frenko’s service to Auden AG as an outside advisor on three portfolio investment projects has been instrumental to the company’s successful operating results. With his indepth and very current understanding of the company’s portfolio companies, and their prospects for success, he will be uniquely valuable to his supervisory board colleagues in assessing both the existing portfolio and pipeline opportunities.
The appointment of these three candidates to the Supervisory Board has the explicit support and backing of Auden shareholders representing a majority of the company’s registered capital, who have provided written declarations thereof to the District Court of Potsdam.
Following the court appointment, the Management Board and Supervisory Board will immediately work with KPMG, Auden’s audit firm, to promptly finalise and publish the company’s 2016 financial statements. The Management Board will, in addition, take proactive steps with the German Federal Financial Supervisory Authority (BaFin) to explain and substantiate the company’s press releases and ad hoc announcements from the past several months.