6/19/2020, 1:01 PM (Source: TeleTrader)
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Wirecard CEO steps down with immediate effect

Markus Braun (pictured), CEO of Wirecard AG, resigned effective immediately as a member of the management board, the company said in a statement on Friday.

Braun stepped down after Wirecard stocks dropped over 40% on Friday on top of a 70% slump in the previous session as Wirecard delayed its earnings release for 2019.

James Freis was appointed as interim CEO, the company concluded. After being halted earlier in the session, Wirecard fell 34.89% at 1:12 pm CET.

Breaking the News / BU