Christopher Hohn wants Wirecard CEO removed due to ‘shortcomings’
Activist investor Christopher Hohn wants Markus Braun removed following FT reports of fraud at the internet and financial services provider
29 April 2020 - 16:50
Sydney — Billionaire activist investor Christopher Hohn has called on Wirecard to remove CEO Markus Braun after an independent audit of past revenues criticised the German payments processor for internal “shortcomings”.
The probe by KPMG was unable to obtain the data needed to verify revenues of €1bn in transactions with third parties. Wirecard hired the accounting firm in October to look into its third-party partner business as well as operations in India and Singapore following a series of reports by the Financial Times that accused the company of accounting fraud in several countries...
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