- Company intends to change name from GRENKELEASING AG to GRENKE AG
- Areas of business will remain unchanged
Baden-Baden, March 16, 2016: The Company’s current name contains the term "Leasing", which is the Company’s traditional area of business. The business has expanded in the past several years under the GRENKE Group to include related business segments, particularly those containing factoring and banking activities.
To reflect its wider business activities, a change in the Company’s current name away from the name’s focus on the leasing business is considered a reasonable step.
The change to GRENKE AG will not have any economic or legal implications for the Company with respect to its relationship to its subsidiaries, shareholders or customers.
The change in the Company’s name to "GRENKE AG" will be added to the agenda of the Ordinary Annual General Meeting on May 3, 2016 as a resolution proposal of the Board of Directors.
"The development of the GRENKE Group has demonstrated that the evolution of our services must always be demand-oriented. Having a diversified range of financing solutions has contributed powerfully to GRENKE’s strong brand. We believe a logical consequence of the Company’s progression is to change the Company’s name from GRENKELEASING AG to GRENKE AG. We will continue to remain faithful to our successful approach – namely, to operate as a finance specialist in small-ticket IT leasing – that has proven itself for the past 38 years", said Wolfgang Grenke, Chairman of the Board of Directors of GRENKELEASING AG.