As part of a move to increase the number non-shareholders on its Supervisory Board, Rocket Internet announced that Stefan Krause, the former Chief Financial Officer of Deutsche Bank and Pierre Louette, Chief Executive Officer Delegate of French telecoms company, Orange will be proposed for election to the Board at the company’s annual general meeting in June.
The new appointees will succeed Lorenzo Grabau and Erik Mitteregger, respectively Chief Executive Officer and a Board director of Investment AB Kinnevik, the Stockholm-headquartered investment firm, which holds a 13% stake valued at approximately $600 million in the internet platform company which owns Africa Internet Group, the operator of a network of online and mobile start-ups on the continent.
“We would like to thank Lorenzo Grabau and Erik Mitteregger for their significant efforts to bring Rocket Internet to the public markets and their valuable insight and advice” said Marcus Englert, Chairman of Rocket Internet’s Supervisory Board. “We are excited to have Stefan Krause and Pierre Louette join the board. They will contribute a wealth of international experience and deep expertise in strategy, operations and Corporate Governance.”