FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder/File Photo
BERLIN (Reuters) – The new chairman of Wirecard said the German payments company needed to strengthen its top management as it fights allegations of fraud and false accounting, while giving Chief Executive Markus Braun a vote of confidence.
Braun’s contract expiring at the end of this year will definitely be extended, Thomas Eichelmann told Manager Magazine in an interview published on Wednesday.
Braun, 50, has had a difficult 12 months in which the Financial Times has alleged that Wirecard’s Singapore office committed fraud and its finance team conspired to inflate revenue and profit at its subsidiaries in Dubai and Ireland.
Outside auditor KPMG was hired last autumn to investigate all the FT’s allegations and is expected to report back by the…
Source Reuters Tech News