autoscout24 creates a cfo with britta schmidt

Scout

27.09.19

CFO

Britta Schmidt, formerly head of IR at Scout24, will, according to FINANCE information, become financial manager of Autoscout24. With the creation of a discrete CFO position, separation from the daughter seems to be more likely.

Significant change at Autoscout24: MDax Group's daughter Scout24 reportedly appoints FINANCE as the new head of finance. Scout24 has thus created its own CFO position with its daughter for the first time since the 2015 Stock Exchange.

Schmidt worked with his mother until recently as head of the Investor Relations Department. Ursula Querette has already taken over her job as IR director. Britta Schmidt is to take up her new post at the beginning of 2020, as FINANCE has learned. In her new role, she will report to the Scout24 Board. The parent group thus strengthens the position of its division. Scout24 could not be reached for an opinion on the staff.

The designated financial manager knows the Scout24 Group well: she came to Scout24 Holding in 2010 as Managing Director Controlling and worked at a rapid pace until she was appointed Vice President Investor Relations & Controlling at the Scout24 Group about two years ago. Before joining Scout24, she worked with Siemens's daughter Siemens Enterprise Communications (now Unify).

Scout24 checks "all alternatives" for Autoscout24

In the light of recent events at Scout24, the staff is gaining in Brisanz: they could give an indication of the future of Autoscout24. About two months ago, activist investor Elliott demanded drastic changes to Scout24, including the separation of Autoscout24. According to Elliott, Scout would be better able to focus on his real estate savings with the Real Estate Scot24 portal.

The Scout24 management apparently bowed to the pressure of the hedge fund and stated that they wanted to examine "all alternatives" for the Group's daughter. In concrete terms, Scout24-CEO Tobias Hartmann talked about being able to imagine not only the sale of the division but also a partial stock exchange. At the end of November, the CEO announced that he would say more about the future of the car portal.

The call for an independent Autoscout24-CFOs could now be interpreted as a further step towards the independence of the division.

Britta Schmidt is an accomplished capital market communicator

Only a few days ago, the Bloomberg news agency reported that Scout24 had already launched a sales process for the portal and had provided information on the sector to potential interested parties such as investment companies and competitors.

The financial investor Permira and the Berlin start-up Auto1 are considered as potential interested parties.

The agency quoted a Scout24 spokesperson as saying that the business was being reviewed. Such steps would be appropriate. But there are no final decisions yet.

The fact that Schmidt is also bringing in a manager at Autoscout24, who is a well-known face on the capital market as an investor relations manager, could be an indication that Scout24 wants to keep the possibility of an IPO of its daughter explicitly open.

olivia.harder[at]finance-magazine.de

The proportion of women in the CFO post is rising slowly. On the topic of women in finance, you can see which women were last called and what challenges they see.

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Scout24 checks "all alternatives" for Autoscout24

Britta Schmidt is an accomplished capital market communicator