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    GGS   DE0005156004

GIGASET AG

(GGS)
  Report
Real-time Estimate Tradegate  -  10:30 2022-12-02 am EST
0.2110 EUR   -4.09%
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Dr. Magnus Ekerot appointed new CEO of Gigaset AG - Gigaset Supervisory Board appoints internationally experienced top IT manager as new CEO for three years

07/27/2022 | 02:49am EST

DGAP-News: Gigaset AG / Key word(s): Personnel
Dr. Magnus Ekerot appointed new CEO of Gigaset AG - Gigaset Supervisory Board appoints internationally experienced top IT manager as new CEO for three years (news with additional features)

27.07.2022 / 08:46
The issuer is solely responsible for the content of this announcement.


Press Release
Bocholt, July 27th, 2022

 


Dr. Magnus Ekerot appointed new CEO of Gigaset AG
Gigaset Supervisory Board appoints internationally experienced top IT manager as new CEO for three years

Bocholt, July 27th, 2022 – Dr. Magnus Ekerot, currently Senior Vice President at Bosch Security and Safety Systems, is joining Europe's leading telecommunications manufacturer Gigaset as CEO and Chairman of the Management Board. The Supervisory Board of Gigaset AG has appointed Dr. Ekerot for a three-year term with today's resolution. Dr Magnus Ekerot (53) will take over the CEO role from Klaus Weßing (65), who has been CEO of Gigaset AG since 2015 and will leave the company in the course of 2023 at the latest to retire.

Dr. Ekerot will take up his post on January 1st, 2023 at the latest. In his role, he will be responsible for the global business of the German premium telecommunications manufacturer, which is active in the business areas of DECT cordless phones, smartphones, smart home and professional with around 900 employees and a global sales network in over 50 countries worldwide.

Helvin Wong, Chairman of the Supervisory Board of Gigaset AG and Ms. Barbara Münch, Vice Chairman of the Supervisory Board of Gigaset AG and Chairwoman of the Personnel Committee on the appointment: "Dr. Ekerot is a highly experienced, internationally positioned top manager who brings a deep understanding of our B2C and B2B business as well as technological products and innovative future technologies. We are very pleased to be able to appoint him to the Gigaset AG Management Board as CEO."

With regard to the departure of Klaus Weßing, Wong and Münch add: "Mr. Weßing looks back on an impressive 40-year career. On behalf of the entire Supervisory Board, we would like to express our sincere thanks to Mr. Weßing for his services to the company, especially during the last 6 years as CEO. Mr. Weßing has given Gigaset a new face and led it through challenging transformations and times."

At Bosch Security and Safety Systems, Netherlands, Dr. Magnus Ekerot has been acting as Senior Vice President for the Video Systems & Solutions Division since 2020. There, with around 1,000 employees under his leadership, he is responsible for the development of innovative hardware solutions based on future-oriented AI and IOT platforms. During his 25-year career, he held numerous management and board positions in internationally renowned IT and telecommunications companies prior to his professional career at Bosch.

The internationally experienced manager has worked all over the world and has already lived in Asia, Germany, the Netherlands, Sweden as well as the USA. Dr. Ekerot holds an MBA in strategic management and a PhD in corporate strategy. He is married and has two daughters.

"I am very pleased to take over the responsibility for Gigaset AG. I am personally convinced that Gigaset, as a broad-based telecommunications manufacturer with its premium portfolio of digital solutions and services, will make a key contribution to connecting private and business customers around the world," said Dr. Ekerot.

"I see the future of Gigaset AG in good hands with Dr. Ekerot," said Klaus Weßing. "We have led the company through challenging times over the last few years. I am firmly convinced that Dr. Ekerot, together with my fellow board member Thomas Schuchardt (CFO), will continue to develop and shape the company's success."

 

Gigaset AG, Bocholt, is an internationally active company in the field of communications technology. The company is Europe's market leader in DECT phones and is also a leading international player with around 900 employees and sales activities in over 50 countries. In addition to DECT phones, its business activities include Android-based smartphones, cloud-based smart home applications and business telephony solutions for SMEs and enterprise customers. The traditional company is characterized in a special way by its "Made in Germany" production. The company is headquartered in Bocholt, Germany. It also maintains a software development center in Wroclaw, Poland and numerous sales offices in Europe and Asia.

 Gigaset AG is listed in the Prime Standard of the German Stock Exchange and is therefore subject to the highest transparency requirements. The shares are traded on the Frankfurt Stock Exchange under the symbol GGS (ISIN: DE0005156004).

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Additional features:

File: Dr. Magnus Ekerot


27.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Gigaset AG
Frankenstr. 2
46395 Bocholt
Germany
Phone: +49 (0)89 444 456 866
Fax: +49(0)89 444 456 930
E-mail: info@gigaset.com
Internet: www.gigaset.com
ISIN: DE0005156004
WKN: 515600
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1406547

 
End of News DGAP News Service

1406547  27.07.2022 

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Sales 2022 238 M 245 M 245 M
Net income 2022 -3,90 M -4,02 M -4,02 M
Net Debt 2022 85,0 M 87,7 M 87,7 M
P/E ratio 2022 -7,67x
Yield 2022 -
Capitalization 30,5 M 31,4 M 31,4 M
EV / Sales 2022 0,49x
EV / Sales 2023 0,43x
Nbr of Employees -
Free-Float 26,5%
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Mean consensus BUY
Number of Analysts 2
Last Close Price 0,23 €
Average target price 0,70 €
Spread / Average Target 202%
EPS Revisions
Managers and Directors
Klaus We▀ing Chief Executive Officer
Thomas Schuchardt Chief Financial Officer
Hau Yan Wong Chairman-Supervisory Board
Paolo Vittorio di Fraia Member-Supervisory Board
Ulrich Burkhardt Member-Supervisory Board
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