Avemio AG appoints Steffen Schenk as COO

Avemio AG appoints Steffen Schenk as COO

Dusseldorf, 29 August 2023 – The Supervisory Board of Avemio AG (ISIN DE000A2LQ1P6, WKN A2LQ1P), a leading system supplier for hardware and software in the field of broadcast as well as professional media, audio and video solutions, has appointed Mr. Steffen Schenk as Chief Operating Officer (COO) to the Executive Board with immediate effect in its meeting yesterday. The tenure of the contract is five years.

Steffen Schenk (47) has more than 20 years of experience in the broadcast industry. The graduate engineer has been working for the wholly-owned trading subsidiary Teltec AG since 2007 and can be described as "homegrown". His career began in the sales department of the trading company, he quickly advanced to sales manager and finally took over responsibility for the operational business of the Teltec Group - initially as an authorized signatory and since 2021 as a member of the Executive Board.

As COO of the listed parent company Avemio AG, Steffen Schenk is now responsible for the further operational development of the entire media technology group. In particular, synergies between Teltec AG and the recently acquired MoovIT companies based in Cologne are to be leveraged and the transformation of the trading group, which dominates the German-speaking market, into an internationally positioned media technology group is to be driven forward.

Ralf P. Pfeffer, Chairman of the Board and CEO of Avemio AG, states: "It is a great pleasure for me to welcome my esteemed colleague and long-time companion Steffen Schenk to the Avemio AG Executive Board. In the past years, he has proven himself with his technical expertise, but also with his management skills, to be a necessary complement to the Avemio Executive Board as I see it. Together with our CFO Norbert Gunkler, the three of us on the Executive Board will now be working to drive the Group forward and create value for our current and future shareholders."

About Avemio AG

Avemio AG is a media technology group with a focus on professional film and television technology. The trading group, which has been growing strongly for many years and has the highest turnover in the German-speaking B2B market with more than EUR 100 million, supplies content producers as a manufacturer-independent provider with products from all major manufacturers. This also includes consulting and technical support for complete production, post-production, and broadcast systems as well as the planning, creation and system integration of media technology workflows with its own software products and cloud offerings.

The share capital of Avemio AG is divided into 3,832,150 no-par bearer shares and listed on the primary market of the Düsseldorf Stock Exchange.

At the beginning of the year 2023, the stock market listing took place as part of a reverse IPO. Here, after 30 years of existence, Teltec AG took over the shell company Palgon AG, which was listed on the Düsseldorf Stock Exchange, and changed its name to Avemio AG. The company was promoted to the primary market and admitted to the Xetra trading platform.

Avemio AG is planning internationalization as part of a buy-and-build strategy with already identified target companies as well as the expansion of the high-margin software offering.

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