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Updated: Thomas Jackermeier will be taking a new role as the more updated info pointed yesterday.
Landshut, March 29, 2024 – The Supervisory Board has decided to dismiss the former CEO and founder of Endor AG, Thomas Jackermeier, from his position on the Management Board as of March 30, 2024. Jackermeier will remain with the company in another function. In addition, the Supervisory Board will appoint a Chief Restructuring Officer (CRO) in the near future. This will fulfill key conditions set by the lending banks for the extension of the standstill agreement until June 30, 2024.
Siegfried Stieger, Chairman of the Supervisory Board of Endor AG: “In order to secure the financial future of the company and reach a forward-looking agreement with the lending banks, we are forced to restructure the Management Board team. We will continue to press ahead with the ongoing optimization of the company since the appointment of the remaining Management Board members and initiate a comprehensive restructuring with the timely support of a CRO. At the same time, it is of central importance for us to keep founder Thomas Jackermeier actively involved in the company. No one in the sim racing market has a comparable network and feel for market trends. I am delighted that Thomas has agreed to take on this new role.” In the future, Thomas Jackermeier will support product management in particular, continue to take care of strategic partnerships and support the future CRO in the restructuring measures.
Strong news for this Good Friday, Fanatec has announced the dismissal of its CEO in a brief note late yesterday. The dismissal of the CEO and founder of the brand is a decision taken by investors to extend their credit agreement until June 30.
Landshut, March 28, 2024 – Dismissal of CEO Thomas Jackermeier
Today, the supervisory board of Endor AG has decided on the dismissal of CEO Thomas Jackermeier, effective at the end of March 30, 2024, thereby fulfilling a key condition set by the lending banks for the extension of the standstill agreement until June 30, 2024.
Notifying person:
Matthias Kosch, CFO
Let’s remember that Fanatec has been suffering serious supply problems in recent times and that there have been incidents in many shipments due to the Christmas campaign and the launch of the QR2 and the new Clubsport series. We talked about all this two months ago here.
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They let everything slip away, their product line got very stale and releasing the CS-DD with the defective hub was a huge mistake. I bought the CS-DD so I could change between PC and PS5, it ended with me sell all my Fanatec gear except the shifter. What they did was a huge incovenience and cost for me, I couldn't never trust Fanatec again.
Seems an appeasement move to the banks. While he's not solely responsible for the problems Fanatec has had, he's certainly not had the vision to navigate the issues either. Sadly, Fanatec has gone from a market leader, to just another manufacturer. With the onset years ago with their Podium line, and a good line of well made gear, they dropped the ball with back-lit wheel choices and focused on reducing quality and production costs, and locking consumers into their ecosystem. At a time where expansion in the market, allowed new manufacturers to come in and not only gain a foothold, but surpass Fanatec. With no new innovation on the H pattern shifters, hand brake and pedals since 2019, their stale equipment has become low tier gear at mid level pricing with horrendous support. Fanatec, at every level, needs a restructure, not just a fall guy. This, from a longtime Fanatec owner and supporters of their line.
That is took this long is abysmal.
I concur
About time ⏲️