Passing of the baton at init SE's Managing Board

EQS-News: init innovation in traffic systems SE / Key word(s): Personnel
Passing of the baton at init SE's Managing Board

08.04.2024 / 10:50 CET/CEST
The issuer is solely responsible for the content of this announcement.

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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


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08.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   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 08.04.2024 CET/CEST