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EQS-News: init innovation in traffic systems SE / Key word(s): Personnel
Passing of the baton at init SE's Managing Board
2024-04-08 / 10:50 CET/CEST
The issuer is solely responsible for the content of this announcement.
Dr. Jürgen Greschner passes his position on to Martin Timmann
. Long-serving CSO steps down, but will remain in the group as Executive Director
. His successor tripled revenue at init subsidiary HanseCom within just a few years
. Seamless transition scheduled for the beginning of the 4th quarter 2024
There will be a change to the Managing Board of init innovation in traffic systems SE (ISIN DE 0005759807) on 1 October
2024. Dr. Jürgen Greschner (62), the long-serving CSO has expressed his desire to step down from the Managing Board on
this date. His position will be taken over by Martin Timmann (56), the current CEO of HanseCom Public Transport
Ticketing Solutions GmbH, Hamburg, a wholly owned subsidiary of init.
Dr. Jürgen Greschner has been responsible for sales at init since 2004, and played a decisive role in the successful
internationalization of the company after joining the Managing Board in 2004. As the sole managing director, he built
up INIT Innovations in Transportation Inc. in the United States, back in 1999. This company has since evolved into a
major pillar of the group. More recently, with a deal for Atlanta, USA, init managed to seal the largest contract in
the history of the company with a volume of over USD 100 million. Transport for London (TfL) also recently signed a
deal of similar size for the renewal of its fleet management system. In addition, Jürgen Greschner has been the Deputy
Chairman of the Managing Board of init SE since 2015.
"Under the leadership of Jürgen Greschner, our international breakthrough succeeded, and we now have a foothold in 14
countries spread across four continents. We owe him our enormous gratitude and are happy that he has decided to stay on
the team at init," says Chairman of the Supervisory Board, Hans-Joachim Rühlig, about the services of Dr. Jürgen
Greschner.
"Since 2004, the init group has been able to raise its revenue from EUR 30 million to over EUR 200 million. It was with
great pleasure that I had the privilege to help shape, together with my colleagues on the Managing Board, the
successful strategy of init over the last two decades. For private reasons, I have come to the decision to take things
a little slower. Nevertheless, I would be happy to continue to offer my knowledge and experience to the company to
support its continued growth from a new position. I would like to take this opportunity to very warmly thank the
Supervisory Board, the Managing Board, the employees, customers and business partners for the successes we have notched
up together", adds Dr. Jürgen Greschner.
His successor, Martin Timmann can also look back on many successful years in the field of mobility solutions. As the
spokesman of the management of HanseCom Public Transport Ticketing Solutions GmbH (since 2013) he has been responsible
for the expansion strategy that led to HanseCom more than tripling its revenues since being acquired by init. Nowadays
HanseCom is the supplier of a ticketing back-office system for nearly all major German-language public transport
operators, such as Berlin, Hamburg and Vienna. With over 2 million mobile users, the company is also a partner to more
than 60 public transport operators in Germany, Austria and Switzerland, making it the leading provider of ticketing via
mobile devices.
"Thanks to his qualifications and more than 20-years of experience in international sales of public transport software
products, Martin Timmann is a logical successor to the position of Chief Sales Officer. Since HanseCom became part of
the init group, it has realized numerous smart ticketing projects. We are happy that many more projects are being added
around the world, for we see enormous growth potential in this promising field, especially in North America," says the
founder and Chairman of the Managing Board, Dr. Gottfried Greschner.

Contact:
Person making the notification:
Simone Fritz
Investor Relations
ir@initse.com
2024-04-08 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
Language:     English 
Company:      init innovation in traffic systems SE 

Käppelestraße 4-10
76131 Karlsruhe
Germany

Phone:        +49 (0)721 6100 0 
Fax:          +49 (0)721 6100 399 
E-mail:       ir@initse.com 
Internet:     www.initse.com 
ISIN:         DE0005759807 
WKN:          575980 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 

Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1875421

End of News EQS News Service
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1875421 2024-04-08 CET/CEST

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END) Dow Jones Newswires

April 08, 2024 04:51 ET (08:51 GMT)