10/17/2019

QSC AG: CFO Stefan Baustert to stand down at end of year following completion of transformation

Cologne, 17 October 2019 – Now that the transformation of QSC AG is complete, based on mutual agreement Stefan Baustert (63) will be leaving the Company as of 31 December 2019.

As a member of QSC’s Management Board, Baustert has been responsible for finance, personnel, central procurement and investor relations since January 2015. Upon arrival, he immediately launched a companywide restructuring and efficiency programme, one that has returned QSC to profitability and laid a key foundation for the Company’s future profitable growth. With the successful sale of Plusnet GmbH in June 2019, all prerequisites have now been met for QSC to operate exclusively in growth markets with its Cloud, SAP and IoT competencies.

“Stefan Baustert acted with great consistency and vision to make QSC fit for a new era of growth. The Company is more leanly structured, free of debt and able to invest in high-potential markets and technologies. For that, we are extremely grateful to him”, commented Dr. Bernd Schlobohm, Supervisory Board Chairman.

Baustert will be succeeded as of 1 January 2020 by Christoph Reif (39), who will act as plenipotentiary. Reif has headed the overall finance department since 2013 and is already a member of the management team. In particular, it was under his management that the spinoff of the telecommunications business and successful sale of Plusnet GmbH were smoothly implemented.

Consistent with QSC’s efforts to streamline its management team, Christoph Reif will take on this new role in addition to his existing responsibilities.

“Christoph Reif has in recent years proven to be an excellent finance expert and is highly familiar with QSC’s organisational structures. As a member of the management team, he also plays a crucial role in shaping the operating business. Precisely this combination of skills will be extremely valuable when it comes to QSC’s proactive development looking forward”, commented the Supervisory and Management Board with regard to the decision. “I very much look forward to working even more closely with Christoph Reif in future, and that on the customary basis of trust”, remarked Jürgen Hermann, CEO of QSC AG, whose responsibilities on the Management Board will in future also include the finance department.

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