These are turbulent days for the Knaus Tabbert group. In just over a couple of weeks, the company first faced disappointing financial results, followed by the resignation of CEO Wolfgang Speck (read the news here). Then came the appointment of Wim de Pundert (read the news here), a significant shareholder and current member of the Supervisory Board, as the new CEO and CFO. Finally, news emerged of an investigation involving two individuals within the company. Below, we provide the full press release issued by the company today.

Knaus Tabbert announces changes in corporate management and reaffirms commitment to organizational improvements

Following our two ad hoc announcements yesterday and earlier this morning, Knaus Tabbert AG would like to provide further details regarding the public prosecutor’s investigations and the recent decision made by the Supervisory Board.

The Supervisory Board has been informed that two individuals within the company are currently the subject of ongoing investigations. In response, the Supervisory Board has decided to terminate the contracts of Chief Operating Officer Werner Vaterl and Chief Sales Officer Gerd Adamietzki with immediate effect. Their operational responsibilities will be temporarily handled by their direct reports.

Knaus Tabbert is fully cooperating with authorities as part of the investigation. It is important to emphasize that the company itself is not currently accused of any wrongdoing but is, instead, a victim that has suffered damages. The extent of these damages is still under assessment. We kindly ask for your understanding that we cannot provide further information at this early stage of the investigation.

This decision comes during a period of significant transformation. Recently, Wim de Pundert assumed the dual role of Chief Executive Officer and Chief Financial Officer, signaling a shift in the company’s strategic direction. In line with these changes, we have already undertaken efforts to further strengthen our leadership team. This unexpected event will accelerate these efforts.

We have launched an internal investigation to clarify all factors that may have contributed to this situation. We are determined to take additional measures to prevent such incidents in the future, including enhancing internal processes and controls.

While this development undoubtedly poses a challenge, it reinforces our commitment to driving meaningful changes within Knaus Tabbert and advancing the company’s strategic objectives. We remain dedicated to building a robust and resilient organization capable of realizing its vision for the future.