Supervisory Board of UMT AG appoints Erik Nagel as new CEO
The Supervisory Board of UMT United Mobility Technology AG (Securities identification number WKN: A2YN70, ISIN: DE000A2YN702) is pleased to announce that it has today appointed Erik Nagel as its new Chief Executive Officer (CEO) with immediate effect. This strategic decision reflects UMT AG’s commitment to rapidly focus on profitable and scalable digital growth areas with high market growth.
Erik Nagel brings extensive experience in both the finance and technology industries, making him an ideal choice for the CEO position. Erik Nagel has also been a shareholder of UMT AG since 2013 and Managing Director of the operating subsidiary UMS United Mobile Services GmbH since 2016 and therefore knows the UMT Group very well.
Before joining UMS, he held various management positions at well-known companies, including the technology and investment banking division of Deutsche Bank, as divisional board member for strategic investments at WestLB AG in Düsseldorf, and as head of the Financial Institutions Group at Sal. Oppenheim’s investment bank in Frankfurt am Main. Since 2013, in addition to his work at the UMT Group, he has also been active in his own investments and as a consultant, and has an educated network in the financial and private equity market.
As the new CEO, Erik Nagel will focus and expand the business activities of the UMT Group, strengthen the payment/financial hub software asset of UMS United Mobile Services GmbH and adapt it to current market conditions, as well as implement the “buy-and-build” strategy with a focus on high-growth business areas. Here, the focus is particularly on investment opportunities in the growth markets of artificial intelligence, machine learning as well as document management and IOT, both in the B2B and B2C areas. These activities and the “Sunrise” research project on subscription models in mechanical and plant engineering will be driven forward in UMS in the future, thus underpinning the positive value of the Company.
UMT AG will only carry out capital measures if they make good business sense and are required as part of strategic investments to acquire companies or expand business activities. This can and will continue to be the case in the future in order to achieve strategic growth. Capital measures to finance day-to-day operations are neither necessary nor in line with the Company’s self-image.
Thomas Teufel is leaving the Management Board of UMT AG and will continue to accompany the growth of MEXS GmbH as Managing Director in the future. The Supervisory Board would like to thank Thomas Teufel for his commitment and the work he has done.
About UMT AG:
UMT United Mobility Technology AG stands as a “TechnologyHouse” for the development and implementation of customized solutions for the digitalization of business processes. With Mobile Payment, Smart Rental and MEXS, UMT has technological platforms for payment, digital rental and now also for communication. The software-oriented technology portfolio now extends far beyond payment and also includes commerce, IoT and, with MEXS, communication, and forms the basis for forward-looking, integrated products. UMT is now much more than a FinTech company and serves the retail and rental sectors as well as industry.
The IT and consulting expertise built up over a decade in the field of e-commerce and payment is the basis for value-creating investments in companies that contribute to the digital transformation of the co-testing environment and thus provides the answers to the most pressing questions of companies. The focus of the investment activities is on medium-sized companies with future-oriented and stable business models. The aim is to participate in the digital transformation with a forward-looking buy-and-build strategy and thus to achieve significant revenue and earnings growth in the UMT Group with sustainable profitability and steady cash flow.
UMT United Mobility Technology AG
Brienner Strasse 7
Tel: +49 89 20500-680
Fax: +49 89 20500-555