Incadea PLC : Change of CEO

incadea plc

("incadea" or the "Company")

Change of CEO

incadea plc (AIM:INCA), a leading provider of enterprise software solutions and services to the global automotive industry, announces today that Patrick Katenkamp, the present Chief Operating Officer (COO) and member of the Board, has been appointed as the new Chief Executive Officer, with effect from today. Werner Leinauer is to leave his position as Chief Executive Officer and step down from the Board of Directors. Werner will continue in a consulting capacity to assist during 2014.  

Werner joined the Board with the objective of managing the Company's IPO and overseeing the successful acquisition of RC Real Business Solutions GmbH, as announced in January.  Both Werner and the Board believe that all of his objectives have been achieved and that it is now the right time for him to pursue his other business interests.

Mr. Leinauer, former CEO of incadea plc, commented:"I am proud to have provided leadership to incadea as it has made the journey from private to public organisation through the IPO process, and during its first years as a publicly listed company. The Company's strategic plans are being delivered upon, and as anticipated, incadea is expanding its reach into the higher growth emerging markets. With the Company looking to achieve the next phase in its growth and development I feel it is the right time to hand over to Patrick. I am confident that with Patrick at the helm the Company will continue to execute on this strategy and deliver growth for shareholders. I am pleased to leave the Company in his good hands and would like to wish Patrick every success during his time as CEO."

David Hobley, Chairman of incadea plc, commented:"Whilst we are sad to see Werner go, we all agree that it is the right time for new leadership. The Board, as a whole, would like to thank Werner for all his work over the last few years in fulfilling his objectives and are grateful to him for guiding incadea in its evolution and look forward to continuing to work with him in his capacity as a consultant to the Company.

"I would like to take this opportunity to welcome Patrick to the position of Chief Executive Officer. Long part of the incadea team, Patrick is ideally suited to take on the role. As a seasoned motor industry professional who has deep knowledge of the sector, he has been instrumental in the Company's strategic growth in the BRIC markets and the Company's recent new client wins." 

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About incadea

incadea (LSE AIM: INCA) is the leading provider of enterprise software solutions and services to the global automotive retail and wholesale market. With a proven industry focus and expertise, incadea is the vendor of choice for car manufacturers and their dealer networks around the world. incadea is present in 80 countries, serving a growing community of 68,000 end users, across 2,200 dealerships of market leading OEMs. incadea was founded in 2000 and listed on the AIM market of the London Stock Exchange in 2012.

Headquartered in Germany, incadea has offices in Austria, Greece, Spain, Portugal, Russia, China, India, Taiwan, Mexico, New Zealand. The Company has a network of worldwide certified channel partners, and its range of blue chip customers include over 50 OEMs such as BMW, Toyota, Volkswagen and Mercedez Benz.