cdv Takes the First Step in Top Management Reorganization Efforts
Tuesday, 10th July 2007 at 5:15 pm
Finance expert Grau to become new CFO
After its successful financial turnaround, cdv Software Entertainment AG is now paving the way for a changeover in its management. Last night, the company, headquartered in Bruchsal, Germany, announced that as of August 1 the successful financial expert, Michael Grau, will strengthen the management board in the role of CFO. The announcement of further personnel changes as part of a long-term reshuffle of cdv’s management team is expected at the upcoming annual general meeting in August.
The right team for a financial reboot
Until recently, Mr. Grau was the Financial Director of Ingenium Pharmaceuticals AG and– through various positions in the financial sphere of Warner Bros. Entertainment group– has gathered the necessary professional know-how within the entertainment and distribution sector. cdv’s Chairman of the Board, Dr. Michael Rimbeck, was delighted by Grau’s decision to join the company, saying,“His wide range of competencies and financial experience– especially in companies going through a financial crisis– is invaluable for cdv. Strong financial operations are of great importance for the economic viability of a publicly-traded company. Michael Grau is therefore the right man for the job, continuing cdv’s long-term successful growth.”
Grau is also excited about his new duties,“cdv is an excellent company, whose new innovative business model has awakened expectations. I look forward to being part of these exciting developments by contributing my know-how and dedication.”
Further management changes expected
Michael Grau will not be the only change at the top this summer–negotiations with other respected potential board members are currently underway. Confirmation of further appointments is expected at the upcoming annual general meeting on August 17.
About cdv Software Entertainment AG:
cdv Software Entertainment AG is the only listed, independent full service provider for the games sector in Germany. Together with its subsidiaries cdv POS GmbH, Gamesmania, seven_m and cdv USA, Inc., cdv has about 60 employees, outstanding contacts within all relevant markets and decades of expertise. As a leading sales and service partner for the entire games and software industry, cdv is excellently positioned on the global market thanks to numerous branches in the German-speaking area, the U.S., Hungary, the Czech Republic and Slovakia as well as noted international partners. Alongside its strong product placement and international distribution logistics, cdv offers its customers a wide range of sales-promoting methods and an extensive, professional marketing and promotion service from a single source. The company, which was founded in 1986 and is headquartered in Bruchsal, Germany, has been on a steady growth course since its 2007 consolidation and is aiming in the medium term for a strong market position as one of the globally leading full service providers in the games sector. More information and current press are always available at www.cdv.de.
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