After a difficult year, fintech company Ayondo Ltd. has announced the resignation of its non-executive director and chairman Thomas Winkler this Monday through the Singapore Exchange (SGX).
Winkler steps down amid Asia refocus
According to a filing through the SGX, Winkler has stepped down from his position, as he views the company’s future businesses should be led by a resident of the Asian region with appropriate experience to lead the Singapore-listed company.
This is in reference to Ayondo’s shifting focus away from Europe to Asia. As Finance Magnates reported, earlier this year, the retail trading group disposed of ayondo Markets Limited, the company’s UK-based subsidiary, and commenced the liquidation proceedings of ayondo Holding AG in Switzerland and ayondo GmbH, the Group’s Frankfurt-based operations.
“The Board will discuss with the incoming investor on a suitable candidate for the chairmanship following the Extraordinary General Meeting to be convened for shareholders approval for the proposed issue of the convertible notes announced on 22 August 2019,” the company said in its filing with the SGX today.
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Although Winkler has resigned from the Board, he will continue to remain as the chairman and director of ayondo Holding AG. In this role, he will work closely with liquidators to ensure the company remains compliant during the proceedings.
“The Company’s sponsor, UOB Kay Hian Private Limited, after having interviewed Mr Winkler, is not aware of any other material reasons for the resignation of Mr Winkler as Non-Executive Director and Chairman,” the statement said.
The resignation of Winkler closes out 2019 for the Group. As Finance Magnates reported, the company started the year on a similar note, with the firm parting ways with its long-serving Chief Executive Officer (CEO) and founder Robert Lempka in January.
Lempka co-founded Ayondo in 2008 with his former colleague at Goldman Sachs Thomas Winkler. He graduated from the University of Trier, Germany, in 1993 with a master of science.