Waldesch on 12.01.1964
CEO of QSC AG
2013 to present
- Repositioning QSC AG as IoT, SAP and Cloud provider for German SME sector
- Sale of telecommunications business to EnBW Telekommunikation GmbH
- Developing Internet-of-Things (IoT) business unit
- Developing comprehensive cloud-based ICT product portfolio for SME customers
CFO of QSC AG
2009 to 2013
- Accelerating QSC’s transformation into a one-stop ICT service provider by acquiring, merging and integrating operations of a housing specialist and an IT service provider at QSC AG
Director of Finance at QSC AG
1999 to 2009
- Accompanying the IPO of QSC AG, its network expansion and its gradual portfolio extension by way of acquisitions and joint ventures
Senior Consultant at QS Communication Service GmbH
1997 to 1999
- Advising prestigious companies and groups such as Debitel, Mobilcom and VIAG on developing their business models in the still new telecommunications market
Business Development at Thyssen Telecom AG
1995 to 1996
- Developing new business fields and executing acquisitions to promote the company’s further development
Studies and Career in German Bundeswehr
1983 to 1995
- Studies at Helmut-Schmidt-Universität – Universität der Bundeswehr Hamburg and at University of Texas in Austin, USA
- Officer’s career in German Bundeswehr (electronic warfare and signal corps), most recent rank: captain
Management Board compensation for 2019
Total Management Board compensation for the 2019 financial year came to € 929k, as against € 1,132k in the previous year. The year-on-year reduction in total compensation was mainly due to the lower volume of variable compensation based on the annual target for the Management Board. Furthermore, the total amount of variable compensation paid in the previous year included a retrospective payment of € 156k for the multiyear targets for the period from 2015 to 2017.
In thetarget agreements entered into for the 2019 financial year, a congruent annual target and two separate, equally weighted multiyear targets were agreed for all Management Board members in office in the 2019 financial year. The annual target was retrospectively adjusted in August2019 to take appropriate account of the effects of the sale of the Plusnet shareholding as of 30 June 2019.
The original and the amended annual target for 2019 were each linked to the Group’s revenues in the 2019 financial year. This target, as amended in August 2019, was 90% met.
The assessment period for multiyear targets covers the financial years from 2018 to 2020. The multiyear targets are linked to the consolidated EBITDA margin at the end of the assessment period in 2020 and to the revenues generated in the Cloud segment in the 2020 financial year. Entitlement to the portion of variable compensation attributable to the multiyear targets arises for each year within the three-year assessment period. However, the portion of variable compensation attributable to the multiyear targets is only accounted for as a component of total compensation following expiry of the assessment period if the agreed multiyear targets were met. No information indicating that the agreed minimum targets would not be met, thus leading to the complete loss of the variable compensation attributable to the multiyear variable compensation, was available at the end of 2019.
No loans were granted to Management Board members.
The following table presents individualised information about the number of shares and convertible bonds held by members of the Management Board: