DGAP-News: Marenave Schiffahrts AG

Bernd Raddatz succeeds Ole Daus-Petersen as CEO

Hamburg: Today Marenave Schiffahrts AG's newly formed Supervisory Board terminated Ole Daus-Petersen's appointment as sole member of the Management Board with immediate effect. At the same time Bernd Raddatz - the Company's former Authorised Signatory - was appointed as new sole member of the Management Board.

Prior to the decisions today concerning the changes in the Management Board of Marenave Schiffahrts AG the Company's new Supervisory Board had been completed. Subsequently to the latest General Meeting former members had resigned from office. Recently, Björn Hagedorn (Public Auditor and Tax Advisor) and David Landgrebe (lawyer) were appointed as new members on the Company's proposal by the competent court with effect until the next General Meeting. Thus, the Supervisory Board has reached its statutory size of four members and is quorate again.

The Supervisory Board would like to thank Mr. Daus-Petersen for his merits gained over the past four years for the Company's benefits, which lead in to the Company's financial restructuring the year 2017 and the implementation of restructuring and release agreements and wishes him all the best for his future professional endeavors.

Bernd Raddatz (born 1977), Business graduate (Diplom-Kaufmann) graduated in business administration from the University of Göttingen and was working with the auditing company PricewaterhouseCoopers. In 2009 Mr. Raddatz joined Marenave Schiffahrts AG where he most recently served as the managing director of all subsidiaries, as the Company's Authorised Signatory and the person responsible for the finance department at group level.
The Chairman of the Supervisory Board, Dr. Hans Michael Schmidt-Dencker, commented as follows: "We are looking forward to a trustworthy collaboration with Mr. Raddatz and the continuity in the management. As a Certified Tax Advisor and Public Auditor his professional skills are beyond any doubt. Based on his achievements within the last years there is no doubt that he is going to fufil his role for the benefit of the company and its shareholders in the future. Mr. Raddatz is deemed to be a renowned and appreciated point of contact for all of the Company's Stakeholders and is supposed to push forward the business restructuring for the time being as a sole member of the Management Board after the meanwhile completed financial restructuring."

"I am pleased about the trust placed in me and I am particularly looking forward to the upcoming strategic challenges", Raddatz adds and continues: "After the turbulent times during the financial restructuring and the changes in our shareholder structure and the company bodies the restart of our business in at least slightly calmer waters has to be shaped. Ernst Russ AG, the largest shareholder of the company, is a strategic partner who has already signaled his commitment and willingness to shape the future of Marenave AG. Ongoing discussions and negotiations will be continued and intensified in order to be able to present concrete results to the shareholders as soon as possible."
                      
Marenave Schiffahrts AG
Marenave was the first stock-listed shipping company in Germany structured as a stock corporation (AG). It was developed to give both institutional and private investors the opportunity to make a long-term investment in shipping and to diversify their portfolio in the process.
In the course of the financial restructuring of the Company, the fleet formerly consisting of 13 ships was sold off in 2017. For the future it is essential to develop new maritime business and to offer a reasonable investment opportunity to the capital markets.
Please visit www.marenave.com for information concerning Marenave. Marenave shares are traded on the Regulated Market of the Hamburg Stock Exchange.
 
WKN: A0H1GY
ISIN: DE000A0H1GY2
Symbol: M5S
 
 
If you have any questions, please contact:
Marenave Schiffahrts AG
Bernd Raddatz
 Phone: +49 (0) 40 / 284 19 32 70
 Fax: +49 (0) 40 / 284 19 32 97
 E-mail: BRaddatz@marenave.com
 Website: http://www.marenave.com/en