CRX Welcomes New Members to the Supervisory Board and Executive Board

New Supervisory Board members

The CRX Markets AG Annual General Meeting on August 28, 2024 elected two new members to the company’s supervisory board replacing Dr. Thomas Schulz and Sven Janssen who were not available for re-election:

• Stephan Sturm: The former DAX CEO and CFO, currently serving as Chairman of the Thiele Family Foundation, will support CRX Markets with his expertise in technology and strategic business development.
• Stephen Orenstein: As an esteemed entrepreneur and investor with international experience and strategic vision, he brings expertise in integrated supply chain solutions.

Simultaneously, the Annual General Meeting renewed the supervisory board mandates of existing members Philip Holzer (Chairman), Carlo Kölzer, and Norbert Lakämper for another term.

New member of the Executive Board: Michael Germann, Chief Commercial Officer

Starting January 1, 2025, CRX will expand its executive board to include a Chief Commercial Officer (CCO). In this role, the new CCO will oversee all sales activities, both with corporate clients and financing partners. Michael Germann, whose career spans over 20 years at UniCredit/HypoVereinsbank, brings valuable international experience from having worked in Munich and New York in the areas of Project Finance, International Clients and Global Transaction Banking. Most recently, Michael served as Managing Director in charge of Cash Management, Trade Finance and Working Capital product sales in Germany. This addition to the executive board underscores the fintech’s unwavering customer focus.

"On behalf of CRX Markets, I warmly welcome Stephen Orenstein and Stephan Sturm to the supervisory board and Michael Germann to the executive board. Their expertise will undoubtedly contribute to further enhancing the company’s success. It makes me proud that we could win such distinguished personalities for CRX Markets. This underscores our position as the leading independent marketplace for working capital finance in Europe. I also extend my gratitude to Sven Janssen and Thomas Schulz, who have meaningfully supported the company with their work on the supervisory board over the years." — Philip Holzer, Chairman of the Supervisory Board at CRX

Strong half-year results 2024

CRX achieved robust growth in the first half of 2024. Revenues increased by a double digit percentage compared to the previous year. With a financing volume of €12.2 billion, CRX surpassed all previous half-year figures. Additionally, the first half of 2024, like H1 2023 and the full year 2023, concluded with a positive seven-figure result. The revenue growth and a substantial increase in financed volumes highlight the company’s leading position in the working capital finance sector and demonstrate the efficiency of its business model.

"Our customer relationships are our top priority. With the appointment of a Chief Commercial Officer, we aim to further focus on the needs of our customers and partners. We are delighted to have Michael Germann in this role, and I am personally looking forward to working with him. Together, we will strengthen our market position and ensure seamless alignment of our sales activities with our business goals. We take pride in the strong growth achieved in the first half of the year and look forward to continuing this successful trajectory." — Frank H. Lutz, CEO at CRX