I=9, January 2, 2025
CFO changes at 1&1 and United Internet
- Markus Huhn, 1&1 CFO stepped down on 31 December 2024.
- He had been CFO in different divisions at 1&1 for more than 17 years.
- He will be replaced by Sascha D’Avis who has held various management positions in the finance division at the 1&1 group since 2004.
- Ralf Hartings, United Internet’s CFO also resigned after holding the position at the parent company for one year 10 months.
- Hartings will be replaced by Carsten Theurer who was CFO for the Schwarz Group for over 3 years.
Assessment
It’s not a good sign that the CFO of 1&1 and its parent company resigned at the same time. This probably has to do with poor performance during the last quarter. However, it seems that the companies are managing the transition well as they were able to find replacements instantly.