Early extension of Executive Board contract with Michael Kenfenheuer until the end of 2021

Dortmund | 19. May 2016

In May 2016, the Supervisory Board of adesso AG resolved to prematurely extend the Executive Board contract with Michael Kenfenheuer (57) which expires at the end of the year. The working paper was signed by both parties last week. The Chairman of the Executive Board will therefore continue to profoundly shape the future development of adesso AG until the end of 2021. With its recent long-term appointment, the Supervisory Board acknowledges Mr Kenfenheuer’s contribution to the successful expansion of the company, of which he has been a member of the Executive Board since 2000. Prior to assuming sole chairmanship as of 1 July 2015, he had already been serving as Co-Chairman from 2011. As part of the three-member Executive Board team, Mr Kenfenheuer is currently responsible for the strongest sales-generating sectors – insurance, banking and healthcare – and is also responsible for some important shareholdings of the Group.

Under his tenure, the Dortmund-based company has achieved considerable success towards realising its self-declared goal of becoming a leading IT consulting company for sector-specific business processes in central Europe. Since he was first appointed to the Executive Board in 2000, the number of employees has grown from 100 to 1,757 at the end of the first quarter of 2016. With annual sales of some EUR 200 million in 2015, the adesso Group currently ranks as one of the leading IT consulting and software development companies in German-speaking countries. adesso also has ambitious plans for the future. By expanding the product business and developing a cross-sector product suite for the insurance industry, the company is aiming to achieve a sustainable increase in value. For this task in particular, the Supervisory Board has also expressed its complete trust in Michael Kenfenheuer.

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