The news broke on March 28, 2024 in a flash press release from Endor AG (company that owns the Fanatec brand). Thomas Jackermeier, the man behind the creation and success of Fanatec in the Sim Racing universe, will have to leave his position on March 30, 2024.
March 28, 2024 – Fire of CEO Thomas Jackermeier:
Today, the supervisory board of Endor AG has decided on the dismissal of CEO Thomas Jackermeier, effective at the end of March 30, 2024, thereby fulfilling a key condition set by the lending banks for the extension of the standstill agreement until June 30, 2024.
press released from Endor AG
We are waiting for other information by the brand or its parent company on the name of a replacement. But it is interesting to note that on the same day, Endor published this:
March 28, 2024 – Endor AG is in negotiations with lending banks regarding a standstill agreement until June 30, 2024 with regard to the existing loans. The standstill agreement is subject to conditions. The Endor Supervisory Board will discuss these conditions today and, if necessary, pass a resolution.
press released from Endor AG
This decision comes after several major upheavals within Fanatec. On December 31, 2023, András Semsey left his position as CFO. He had held since 2004 in favor of Matthias Kosch. This departure was followed by that of Oliver Gosemann in February. And then, internal reshuffles which saw certain key positions change hands on the marketing side among others.
Editor’s opinion
As a simracer, seeing such a passionate and dedicated founder surprised me deeply. After spending more than a quarter of a century building the Fanatec empire, Thomas Jackermeier apparently was no longer the right man for the job in the eyes of his board. After the very complicated episode of Black Friday and its deliveries, Fanatec seems to have put itself in a situation where repaying its debts is no longer as simple as expected. However, sales in the last quarter of 2023 were beyond anything the brand had experienced since its creation. In any case, on the stock market side (Endor AG has been listed since 2006) the price is the lowest, falling in one year from $13 to only $2.70 per share as I write these lines.
How will this departure translate for sim racers and for the Fanatec brand? I hope that the replacement of Jackermeier does not mean that the brand is moving into an era of “all profit”… To the detriment of players around the world.
Do not hesitate to share your opinions with me in the comments. This is an unprecedented situation that we are experiencing and talking about it can only be beneficial.
This article will be updated as revelations become available.
