Tim Schumacher Resigns As Sedo CEO; Moves Up to Supervisory Board

Sedo logo Tim Schumacher, one of four co-founders of Sedo back in 2001, has announced he will be resigning as the company’s CEO and Board of Management on 31 December for “personal reasons.”

Sedo logo

Sedo logo Tim Schumacher, one of four co-founders of Sedo back in 2001, has announced he will be resigning as the company’s CEO and Board of Management on 31 December for “personal reasons.”

The company has already announced a new CEO and member of the management board, Tobias Flaitz who previously worked with Hubert Burda Media, as the new CEO/member of the Management Board of Sedo. Flaitz will commence in his new position with Sedo on 1 February, 2012.

At the next Annual General Meeting 2012 the Supervisory Board is due to be newly elected. In a proposal by United Internet AG, the Supervisory Board intends to propose Tim Schumacher as a new member of the Supervisory Board.

Tim Schumacher co-founded Sedo in 2001, together with Marius Würzner, Ulrich Essmann and Ulrich Priesner, and led the company to become the global leader in domain trading. In 2007, he was named “Entrepreneur of the Year” by Ernst & Young Germany. In 2009, he became CEO of Sedo Holding AG, which is comprised of Sedo’s domain business and ‘affilinet’, one of Europe’s leading affiliate marketing platforms.

Tobias Flaitz holds a degree in engineering and an MBA from the Universities of St.Gallen, Switzerland, and Berkeley, CA. He worked successfully for many years as a consultant for Accenture as well as Booz & Co. in the USA and EMEA. Since 2007 Tobias Flaitz held a management position in Strategy and Business Development with Hubert Burda Media in Munich.

“On behalf of the Supervisory Board, I would like to thank Tim Schumacher for the many years of excellent and trustful cooperation, for his personal commitment and the great accomplishments he has attained for the company. He founded and led Sedo from being a start-up to the world’s largest marketplace for domains and the leading domain parking company,” said Michael Scheeren, Chairman of the Supervisory Board. “We are delighted that Tim Schumacher will be available for further cooperation within the Supervisory Board. At the same time, we are delighted to have obtained the services of Tobias Flaitz, as an experienced manager with competence in digital business models and consulting expertise in strategy development and process optimization, who will drive Sedo’s further expansion during the coming years.”