Cancom Supervisory Board Promotes COO Rüdiger Rath To CEO

RTTNews | 1528 days ago
Stocktwits
Cancom Supervisory Board Promotes COO Rüdiger Rath To CEO

(RTTNews) - German IT service provider Cancom SE (CNCXY.PK) announced Tuesday that its Supervisory Board has decided to appoint Rüdiger Rath as the new Chief Executive Officer, effective from November 1, 2022.

Rath will succeed Rudolf Hotter, who will leave the company at his own request on October 31, 2022 after around 17 years as a member of the Executive Board. Hotter had been CEO since 2020 and had asked the Supervisory Board to terminate his contract early. Hotter will continue to support the company in an advisory capacity for a transitional period of 12 months.

Rath has been a member of the Executive Board and in the position of COO since October 2021. Before joining CANCOM, he was Head of Europe at the Logicalis Group and was responsible for all subsidiaries in Europe as well as the international business on the Executive Board of the Logicalis Group.

The Supervisory Board also resolved to expand the Executive Board from three to four members. In addition to the positions of CEO, CFO and COO, which will now be filled, a new Executive Board position will be created with responsibility for Human Resources and ESG.

The Supervisory Board will initiate a search to fill the two Executive Board positions in the near future.

Tags: CNCXY.PK
Stocktwits
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Asian Markets Sink Amid Inflationary Risks

Asian Markets Sink Amid Inflationary Risks

Asian markets are mostly lower on Friday, following the negative cues from Wall Street overnight, as crude oil soars past $100 a barrel for the first time since May amid concerns of a prolonged war between the U.S. and Iran. Surging crude oil prices and treasury yields have added to concerns about inflation risks and the outlook for interest rates ahead of the US Fed's monetary policy meeting.
RTTNews | 22 minutes ago
Losing Streak May Continue For Thai Stock Market

Losing Streak May Continue For Thai Stock Market

The Thai stock market has moved lower in back-to-back sessions, sinking more than 5 points or 0.3 percent along the way. The Stock Exchange of Thailand now sits just above the 1,615-point plateau and it's tipped to open under water again on Friday.
RTTNews | 1h 31min ago
Japanese Market Sharply Lower

Japanese Market Sharply Lower

The Japanese market is trading sharply lower on Friday, reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 63,550 level, with weakness in index heavyweights, exporters and technology stocks partially offset by gains in automakers.
RTTNews | 1h 54min ago
Indonesia Stock Market Tipped To Open In The Red

Indonesia Stock Market Tipped To Open In The Red

The Indonesia stock market has finished lower in two straight sessions, surrendering almost 100 points or 1.4 percent in that span. The Jakarta Composite Index now rests just beneath the 6,590-point plateau and it may continued selling pressure on Friday.
RTTNews | 2h 1min ago
No Help Yet For Hong Kong Stock Market

No Help Yet For Hong Kong Stock Market

The Hong Kong stock market has moved lower in three straight sessions, sliding more than 650 points or 2.6 percent along the way. The Hang Seg Index now sits just above the 24,950-point plateau and it's likely to extend its losses on Friday.
RTTNews | 2h 16min ago
Australian Market Sharply Lower

Australian Market Sharply Lower

The Australian stock market is trading sharply lower on Friday, extending the losses in the previous three sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,750 level, with weakness in mining and technology stocks partially offset by gains in financial and energy stocks.
RTTNews | 2h 22min ago
Soft Start Anticipated For China Stock Market

Soft Start Anticipated For China Stock Market

The China stock market on Thursday ended the three-day winning streak in which it had risen more than 20 points or 0.5 percent. The Shanghai Composite Index now sits just above the 3,930-point plateau and it's expected to see continued consolidation on Friday.
RTTNews | 2h 31min ago
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