Wirecard CEO Markus Braun has resigned a working day immediately after the scandal-wracked German payments agency disclosed it was lacking $two billion in cash.
Braun’s abrupt departure capped a tumultuous 48 hours in the course of which Wirecard’s shares crashed by far more than 80%, wiping virtually ten billion euros ($11.two billion) off its marketplace worth.
“The self esteem of the funds marketplace in the company I have been managing for 18 a long time has been deeply shaken,” Braun wrote Friday in his resignation letter. “With my choice, I respect the reality that responsibility for all business enterprise transactions lies with the CEO.”
The at the time higher-traveling Wirecard on Thursday experienced delayed publication of its 2019 results, expressing its auditors at EY could not obtain “sufficient audit evidence” of about one.9 billion euros, or $two billion, in its cash balances that Wirecard explained experienced been deposited in two