Scout24 shares moved lower after the company shared unexpected leadership news. The decline came after it was announced that Chief Financial Officer Dr. Dirk Schmelzer will leave his role at the end of February.
Schmelzer is stepping down to pursue a new career path. His exit follows 6.5 years as CFO at the company. The timing surprised investors and led to selling pressure in the stock.
Scout24 confirmed that Martin Mildner will take over as CFO from March 1. Mildner previously served as CFO at ProSiebenSat.1. He brings long experience in finance and corporate leadership.
Following the drop in the share price, CEO Ralf Weitz made a personal move to show confidence. He bought Scout24 shares worth around €100,000. The purchase was made at an average price of €82.4 per share.
Mildner has a strong background. He previously worked as CFO at United Internet. During his time there, he played a key role in the successful IPO of IONOS. He was also involved in the public listing of About You.
Earlier in his career, Mildner spent 13 years at Otto Group. He worked as General Counsel and led mergers and acquisitions at the company.
Analysts at Kepler said the change was not expected. They added that the timing is challenging. This is due to recent pressure on the classifieds sector and investor concerns around AI. Upcoming acquisitions in Spain also add complexity.
However, analysts clarified that the decision was personal. They said the move had been planned for months and was not sudden.
Scout24 stated that a detailed search process was carried out. The company said it has a clear plan in place to ensure a smooth transition.