In rare German boardroom fight, broker CEO exits with jab at founder [Reuters]
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Source: Reuters
FRANKFURT, April 26 (Reuters) - A rare public boardroom dispute in Germany escalated on Friday, with the outgoing CEO of a major online broker criticising a company founder who had publicly campaigned against him. Frank Niehage, the CEO of broker FlatexDegiro , this week suddenly announced he would leave after 10 years at the helm of the firm that operates in 16 countries with 2.7 million customers. The departure followed sharp criticism from the company's founder and major shareholder, Bernd Foertsch, who told a business he would vote against Niehage and the company's chair at an upcoming shareholder meeting due to strategic mistakes, like "sleeping through a cryptocurrency boom". It is rare in the staid corporate culture of Europe's largest economy for such disagreements to occur in public rather than behind closed doors. Niehage told a regularly scheduled earnings call with analysts on Friday he had resigned to "avoid further damage" to the company's reputation and to "res
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