(Name of Supervisory Board Chairman Korbmacher corrected: Martin rpt Martin)

FRANKFURT (dpa-AFX) - The shareholders of Flatexdegiro have given the long-standing management team of the online broker a clear slap in the face. At the online general meeting on Tuesday, the shareholders refused to discharge the former CEO Frank Niehage, the former Deputy CEO Muhamad Chahrour and the Chairman of the Supervisory Board Martin Korbmacher. However, Korbmacher escaped his dismissal from the supervisory body, which major shareholder Bernd Fortsch had requested. Almost two thirds of the votes were in favor of the motion. However, a majority of three quarters would have been required.

However, the shareholders elected Fortsch as a new member of the Supervisory Board. The seat was vacated by Herbert Seuling, who is also a member of Fortsch's company Heliad.

The non-exoneration of Korbmacher, Niehage and Chahrour has no direct consequences for those affected. However, it is seen as an expression of mistrust by the shareholders. The shareholders also rejected the remuneration report and the remuneration system for the Executive Board, which Flatexdegiro had submitted to them for a vote./stw/ngu