DGAP-News: SNP Appoints New CFO to Strengthen Focus on Profitable Growth

Corporate News

SNP Appoints New CFO to Strengthen Focus on Profitable Growth

With Prof. Dr Thorsten Grenz, an experienced financial expert succeeds Prof. Dr Heiner Diefenbach as interim CFO

Heidelberg, 30 March 2022 - As reported in its annual report published today, SNP has launched a new strategy program ELEVATE to strengthen its focus on sustained profitability of its further growth. At an extraordinary meeting today, the Board of Directors of SNP decided to support such focus on sustained profitability by recruiting a new CFO. Immediately after this decision, the Board of Directors and Prof. Dr Heiner Diefenbach mutually agreed that he will resign his position as managing director and Chief Financial Officer, effective March 31, 2022, and that he will leave the company. The Board of Directors would like to thank Prof. Diefenbach for his slightly more than two years in office. The search for a successor will be initiated immediately.

n addition, the Board of Directors resolved to appoint Prof. Dr Thorsten Grenz as managing director of SNP, effective immediately. Prof. Grenz will assume the position of interim CFO of SNP until the search for a successor has been successfully completed. Prof. Grenz is an experienced manager and financial expert with a proven track record as CFO and CEO in various companies. Prof. Grenz has been advising SNP in financial matters since early 2022. He is therefore already familiar with SNP, its business model and strategy as well as with its finance and business processes. In earlier stations of his career, Prof. Grenz was, among others, interim CFO of Schaltbau Holding AG, CEO of Veolia Environmental Service and Veolia Germany, Operating Partner of 3i plc, CFO of Hero AG, CEO and previously CFO of Mobilcom AG, CFO of Hapag-Lloyd Container Line, as well as Associate Principal of McKinsey & Company, Inc.

"Now that our strategy program ELEVATE is announced and our financial reporting for 2021 published it is the time for paving the way for the execution of our strategy focused on profitable growth." said Prof. Dr Claus Heinrich, chairman of SNP's Board of Directors. "The CFO role is of vital importance for the strategy execution. Hence, we plan to re-fill this position with an exceptionally strong, dedicated and proficient individual. We are highly grateful that Prof. Grenz, with his profound expertise and experience, will support us as interim CFO until we have completed this recruiting process."

About SNP

SNP is a world-leading provider of software for managing complex digital transformation processes. Instead of traditional IT consulting in the ERP environment, SNP offers an automated approach using specially developed software: The Data Transformation Platform CrystalBridge(R) and the SNP BLUEFIELDTM approach allow companies to restructure and modernize their IT landscapes much more quickly and securely as well as migrate to new systems or cloud environments more securely. This gives customers clear qualitative advantages while at the same time reducing their time and costs.

The SNP Group has around 1,350 employees worldwide. The company is headquartered in Heidelberg, Germany, and generated revenue of around EUR 144 million in the 2020 fiscal year. It serves multinational companies in all industries. SNP was established in 1994, went public in 2000, and has been listed in the Prime Standard segment of the Frankfurt Stock Exchange since August 2014 (ISIN DE0007203705).

More information is available at www.snpgroup.com

Contact person at SNP:

Marcel Wiskow
Director Investor Relations
Tel.: +49 6221 6425-637
E-mail: Marcel.Wiskow@snpgroup.com