Ad hoc announcement acc. to Article 17 MAR
Karlsruhe, 24 February 2017
After serving as the CFO of init innovation in traffic systems AG (ISIN DE 0005759807) for 16 years, Bernhard Smolka will hand over the reigns to his successor, Dr Herbert Bäsch, after the company’s Annual General Meeting on 24 May 2017. Smolka, who has made a considerable contribution towards the success of init since its IPO in July 2001, will, however, continue to be involved in the init Group in another capacity as Managing Director of INIT GmbH.
The Managing Board and Supervisory Board would like to thank Bernhard Smolka for his successful work as CFO and are pleased that he will continue to play a key role in the future of the worldwide leading supplier of integrated planning, dispatching, telematics and ticketing systems for buses and trains.
Smolka will ensure a smooth transaction of his responsibilities (finance, controlling and investor relations) to Dr Herbert Bäsch. Dr Bäsch, who has a PhD in business administration, will join the company on 1 May 2017 and has many years and extensive experience in the modern financial and commercial management of international groups and medium-sized, listed companies. For the last seven years, he served as Finance Director of a leading global manufacturer of technical products and specialty papers with a sales volume of some USD 550 million and more than 1,400 employees. Prior to that, as CFO, he successfully led VERBIO AG in Leipzig to the stock exchange.
