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Grenke's founder suspends board seat in wake of critical report

Credit: REUTERS/CHARLES PLATIAU

September 21, 2020 — 03:26 am EDT

Written by Tom Sims for Reuters ->

FRANKFURT, Sept 21 (Reuters) - German leasing business Grenke GLJn.DE said on Monday that its founder Wolfgang Grenke would temporarily give up his seat on the supervisory board in the wake of a critical report by a short seller accusing the company of fraud.

The company also said that it was studying changes to its franchise model that was a focus of allegations in the report.

(Reporting by Tom Sims; editing by Thomas Seythal)

((Tom.Sims@thomsonreuters.com; +49 30 220 133 645;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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