Industry News

DEAG boss to step down after handover

Featured Image: DEAG

Founder and chief executive of DEAG, Peter Schwenkow, has handed over the operational management of DEAG to his co-chief executive Detlef Kornett.

Schwenkow made the announcement during a reception for his 70th birthday celebrations in Berlin.

“After 46 years at the helm of the company I founded and in the best of health, I am announcing the long-prepared move to a new role. From 1 April 2024, I will assume the role of ‘founder & senior advisor’ at DEAG and hand over responsibility as CEO,” Schwenkow said.

“This step, on my 70th birthday, was planned for a long time and carefully prepared. The captain is leaving the bridge, but not the ship. I will continue to be part of the journey as an advisor to the company and – together with my son Moritz – as a major private shareholder in DEAG, in order to make my contribution to the company’s continued growth in the interests of all shareholders.

“Since 1978, we have continuously and successfully developed new products and markets with committed, loyal and creative partners and employees, without whom this growth would not have been possible.”

The live event company’s supervisory board thanked Schwenkow for his work and looked forward to an “exciting and prosperous future”.

DEAG has more than 600 employees in seven countries across 22 locations, and boasts continuous annual sales of more than €300m (£257m/$324).

From April 1, Kornett and his fellow board members Moritz Schwenkow, Christian Diekmann and David Reinecke as well as the senior vice presidents Stuart Galbraith, Benedikt Alder, Jacqueline Zich and Oliver Hoppe, will be responsible for the leadership of the company.

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