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PRESS RELEASE: Wirecard AG: Comprehensive change in the Management Board of Wirecard AG; Improvements in organizational processes

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DGAP-News: Wirecard AG / Key word(s): Personnel
Wirecard AG: Comprehensive change in the Management Board of Wirecard AG;
Improvements in organizational processes

2020-05-08 / 17:40
The issuer is solely responsible for the content of this announcement.

8 May 2020

*Wirecard AG: *

*- Comprehensive change in the Management Board of Wirecard AG*

- *Improvements in organizational processes*

Aschheim (Munich). The Supervisory Board of Wirecard AG appoints the
American Dr. James H. Freis (49) as Chief Compliance Officer effective July
1, 2020. On the Group Management Board of the company, he will be
responsible for the newly created department "Integrity, Legal and
Compliance". The Legal, Contracts and Compliance functions will be bundled
in this department.

James Freis has been responsible for compliance at Deutsche Börse AG,
Frankfurt, since 2014. Prior to this, he worked for the international law
firm Cleary Gottlieb Steen & Hamilton, Washington DC. Between 2007 and 2012,
he was Director (CEO) of the United States Department of the Treasury's
Financial Crimes Enforcement Network (FinCEN), where he was a senior U.S.
government official responsible for the regulation of financial
institutions. Freis was also head of the U.S. Financial Intelligence Unit
(FIU), which conducts investigations into the implementation of and
compliance with laws. He began his career in 1996 as a lawyer at the Federal
Reserve Bank of New York. He later served as Senior Counsel at the Bank for
International Settlements in Basel, Switzerland, before joining the U.S.
Department of the Treasury as Deputy Assistant General Counsel for
Enforcement & Intelligence.

James Freis holds a degree in economics from Georgetown University and a
doctorate from Harvard University's law school.

The Supervisory Board of Wirercard AG has also decided to expand the
Executive Board by two additional seats, increasing its total number of
members to seven.

In an also newly created sales department, a Chief Commercial Officer will
manage all sales activities of Wirecard AG and promote the company's sales
strategy to further expand its global market position. This includes the
sales divisions Consumer Goods, Telecommunications, Digital, Travel, Small &
Medium Enterprises (SME) and Enablement as well as corresponding marketing

The responsibilities of the Chief Operating Officer will be reorganized and
placed under new management. The Supervisory Board is already in talks with
experienced managers on the appointment of a Chief Operating Officer. In
future, the Group coordination of the subsidiaries in Europe, the Middle
East and Africa as well as Asia will be bundled in this department. The
Group's activities in North and South America will also be coordinated by
the COO. In addition, the department will assume responsibility for human
resources and facility management.

In addition, the Supervisory Board resolved to reorganize the
responsibilities of the Management Board. The Management Board welcomes this

The CEO of Wirecard AG, Dr. Markus Braun, will in future focus his
activities on the strategic development of Wirecard AG. This includes
strategic alliances, innovation management, the further business development
of the Group, the coordination of business policy and the business divisions
as well as corporate communications. With this decision, the Supervisory
Board acknowledges the extraordinary and sustained growth successes of
Wirecard AG under the leadership of Dr. Braun and appreciates his innovative
strength, which provides impetus for the company.

The Supervisory Board is strengthening the Group's Finance Department and is
placing capital market communications directly with CFO Alexander von Knoop.
In addition to being responsible for investor relations, his area of
responsibility includes Group financial coordination, finance and accounting
and controlling, treasury, mergers & acquisitions, corporate finance as well
as Group coordination of the licensed subsidiaries such as Wirecard Bank AG.
The Finance Department is relieved of the Compliance and Legal departments
as well as Human Resources.

With the appointment of a COO to the Group Board of Management, Jan Marsalek
takes over responsibility for Business Development. As Chief Business
Development Officer, he is responsible for the areas of New Ventures, Global
Business Integration, Global Financial Services and Financial Services
Development with the product area, value-added services as well as the
expansion of the license area and Group coordination of third-party partner

The Management Board Division Product, headed by Ms. Susanne Steidl,
continues to comprise the Group Coordination Product, Artificial
Intelligence, Development and Operations, technical subsidiaries and
customer project management as well as Wirecard Labs and internal Group
projects. Responsibility for the Group companies in North and South America
will be transferred to the COO.

In addition to these adjustments to the distribution of responsibilities,
the Management Board, at the suggestion of the Supervisory Board, will press
ahead with improving the operational excellence of Wirecard AG. To this end,
structures, processes and, in particular, the internal control systems
within the company will be reviewed and designed in favor of a learning and
continuously improving organization.

Wirecard has already set up a compliance project with nine focal points.
These are Governance Framework (administration), Risk Framework (risk
framework), Policies & Procedures Framework (guidelines & procedures),
Business Partner Compliance Management, Reporting Framework (reporting),
Controls Framework, Incidents/Investigation/Incentive/Improvement, Training
& Communication and Tools & Data.

As already announced by the Board of Management, Wirecard intends to
increasingly acquire its own licenses in markets outside Europe as well, or
to enter into BIN Sponsor relationships (similar to own licenses). Wirecard
is considering this wherever it makes business sense and is justifiable in
view of local conditions. The Group thus intends to optimize efficiency
along its entire value chain.

Thomas Eichelmann, Chairman of the Supervisory Board, said: "The business
model of Wirecard AG is sustainable and highly profitable. With the
resolutions adopted, we are setting the course for a continued successful
future of the company. In particular, I am personally delighted that with
Dr. James Freis I have been able to win an internationally recognized
compliance expert for Wirecard AG. On the basis of the organizational and
personnel changes that have now been agreed, the Supervisory Board has
confidence in the Management Board and its Chairman."

Markus Braun, Chief Executive Officer, said: "This reorganization lays the
foundation for the next growth phase of Wirecard AG, which I am extremely
pleased about. I would like to apologize to all our shareholders, customers,
partners and employees for the turbulence of the past weeks and months.
Wirecard is and will remain a sustainably highly profitable company. We will
do everything necessary to lead our company from operational success to
operational success with a steady hand, but resolutely and unwaveringly."

*Wirecard contact:*

Wirecard AG
Iris Stoeckl
VP Investor Relations/ Corporate Communications
Tel.: +49 (0) 89-4424-1424
E-Mail: iris.stoeckl@wirecard.com
ISIN DE0007472060
Reuters: WDI.GDE
Bloomberg: WDI GY

*About Wirecard: *

Wirecard (GER:WDI) is one of the world's fastest growing digital platforms
in the area of financial commerce. We provide both business customers and
consumers with a constantly expanding ecosystem of real-time value-added
services built around innovative digital payments by using an integrated
B2B2C approach. This ecosystem concentrates on the areas payment & risk,
retail & transaction banking, loyalty & couponing, data analytics &
conversion rate enhancement in all sales channels (online, mobile, ePOS).
Wirecard operates regulated financial institutions in several key markets
and holds issuing and acquiring licenses from all major payment and card
networks. Wirecard AG is listed on the Frankfurt Stock Exchange (DAX and
TecDAX, ISIN DE0007472060). Visit us on www.wirecard.com, follow us on
Twitter @wirecard and on Facebook @wirecardgroup.

2020-05-08 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: Wirecard AG
Einsteinring 35
85609 Aschheim b. München
Phone: +49 (0)89-4424 1400
Fax: +49 (0)89-4424 1500
E-mail: ir@wirecard.com
Internet: www.wirecard.com
ISIN: DE0007472060
WKN: 747206
Indices: DAX, TecDAX, Prime All Share, Technology All Share
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
EQS News ID: 1039993

End of News DGAP News Service

1039993 2020-05-08

(END) Dow Jones Newswires

May 08, 2020 11:41 ET ( 15:41 GMT)

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