Christian Kromann appointed Chief Executive Officer of SimCorp
Company Announcement no. 34/2021 – Inside information
SimCorp announces today that Christian Kromann will succeed Klaus Holse as Chief Executive Officer, effective September 2, 2021. Christian has served as SimCorp Chief Operating Officer and member of the Executive Management Board since August 2019.
Chairman of the Board of Directors Peter Schütze comments, "We are delighted to appoint Christian as our Chief Executive Officer. The Board has followed Christian’s performance as COO for the past two years and we are pleased to have a strong and competent internal successor to take over the leadership of the company after Klaus Holse. Christian is an accomplished and respected leader with an impressive background from our sector, and his dedication to execution and strong client focus is what is needed to drive SimCorp’s success in the future. In addition, we are very happy that Klaus Holse has agreed to stay on as a member of the Executive Management Board for the rest of the year and then as Senior Advisor until the end of Q2 2022 to ensure a smooth transition. At this time, the Board and I would also like to extend our thanks and sincere gratitude for the immense contribution Klaus Holse has made to SimCorp. In his nine-year tenure, we have seen tremendous growth and significant value creation for our shareholders, and Klaus has been instrumental for initiating the ongoing transformation."
“I am incredibly proud of what the team across the world has achieved during the nine years I have had the privilege to lead the company. This is a good time for me personally, as well as for the business, to pass the baton and I can’t think of a better successor than Christian. I am confident that he will be the right leader for the team to continue the journey that has made SimCorp a global leader.” Says Klaus Holse.
Prior to being named CEO in September, Christian Kromann has served the past two years as Chief Operating Officer bringing extensive international experience, including North American focus, executional strength, and commercial insight from within the industry to SimCorp.
Christian Kromann comments "I am deeply honored to assume this responsibility after Klaus.
I’m taking over an extremely strong company and I look forward to leading our dedicated employees and accelerate our transformation journey from a software to a technology-enabled service company, strengthening the value we deliver to our clients as well as our shareholders”.
Christian Kromann’s remuneration will be in accordance with the remuneration policy approved by the Annual General Meeting held on 24 March 2021.
To further align with the interests of shareholders and strengthen retention incentives, the Board of Directors will propose to the shareholders to offer Christian Kromann Restricted Stock Units (RSUs) of DKK 10m vesting 1/3 after 3 years, 1/3 after 4 years and 1/3 after 5 years conditional upon Christian Kromann’s continued service and an increased investment in SimCorp shares by Christian Kromann of DKK 5m. The number of RSUs shall be determined by the average market price of the SimCorp share in the 3 trading days following SimCorp’s release of its Q2/H1 2021 announcement. The DKK 5m investment shall be completed by end of August 2023. If the investment falls short of the DKK 5m, then the number of RSUs granted shall be reduced proportionally.
The Board of Directors will seek approval from the shareholders for these RSU’s, and plan to convene an extraordinary general meeting on 13 September 2021, where the required revisions to the remuneration policy will be presented to the shareholders.
ABOUT SimCorp
SimCorp provides integrated, best-in-class, multi-asset investment management solutions to the world’s leading institutional investors including asset managers, asset owners, pension funds, insurers, and corporate treasurers. SimCorp’s core solution, SimCorp Dimension®, alongside SimCorp Coric®, SimCorp Gain™, and SimCorp Sofia™ form a powerful and complete solution, that together with a range of managed services, supports the entire investment life cycle.
SimCorp invests around 20% of its annual revenue in R&D, helping clients develop their business and stay ahead of ever-changing industry demands. Listed on Nasdaq Copenhagen, SimCorp is a global company, with regional offices across EMEA, North America, and Asia Pacific.
Enquiries regarding this announcement should be addressed to:
Peter Schütze, Chairman of the Board of Directors, (+45 4054 4200)
Klaus Holse, Chief Executive Officer, SimCorp A/S (+45 2326 0000)
Christian Kromann, Chief Operating Officer, SimCorp A/S (+45 2810 9090)