Dr. Georg Kofler has resigned as CEO of Social Chain AG with immediate effect. "I assumed the position as CEO of Social Chain AG in January this year. Together with my colleagues on the Management Board and our team, we have been working hard to put Social Chain AG on a strategically and economically sustainable path. In view of the persistently difficult market environment and past pressures, we have unfortunately not succeeded in doing so. I regret this very much, especially for the dedicated employees who have remained loyal to Social Chain AG and to me during these troubled times. I would like to express my heartfelt thanks and appreciation to them.
I would also like to express my deep regret to our shareholders and business partners. I always believed in our plans, was honestly enthusiastic, and we got many projects off the ground. I supported our beliefs with a lot of equity and now have to accept bitter losses. I would like to sincerely apologize to all those who now have to accept losses due to the insolvency of Social Chain AG.
I am now stepping down from office to clear the way for further extensive restructuring measures. I wish my successors the best of luck and the entire company a successful restructuring."