Gigaset AG Announces Changes in Management Board Amid Restructuring Efforts

Gigaset AG i.L. has announced key changes in its Management Board, effective June 20, 2024. The Supervisory Board has reappointed Mr. Ran Tao for an additional 12 months, and Mr. Guoyu Du and Mr. Sean Hsin Jan Fang for a further 4 months as interim members. This decision comes in the wake of ongoing negotiations with Gold Gear Investment regarding a potential restructuring plan.

Additionally, the current Chairman, Dr. Magnus Ekerot, will step down on June 20, 2024. The Supervisory Board has appointed Mr. Ran Tao as the new Chairman, effective June 21, 2024. The Board expressed gratitude to Dr. Ekerot for his contributions to the restructuring efforts.

The negotiations led by insolvency administrator Dr. Markus Wischemeyer aim to present a viable insolvency plan to the creditors. The timeframe for finalizing the investor solution remains uncertain, dependent on resolving various preliminary issues.