init innovation in traffic systems SE
Passing of the baton at init SE’s Managing Board

Dr. Jürgen Greschner passes his position on to Martin Timmann

• Long-serving CSO steps down, but will remain in the group as Executive Director
• His successor tripled revenue at init subsidiary HanseCom within just a few years
• Seamless transition scheduled for the beginning of the 4th quarter 2024

There will be a change to the Managing Board of init innovation in traffic systems SE (ISIN DE 0005759807) on 1 October 2024. Dr. Jürgen Greschner (62), the long-serving CSO has expressed his desire to step down from the Managing Board on this date. His position will be taken over by Martin Timmann (56), the current CEO of HanseCom Public Transport Ticketing Solutions GmbH, Hamburg, a wholly owned subsidiary of init.

Dr. Jürgen Greschner has been responsible for sales at init since 2004, and played a decisive role in the successful internationalization of the company after joining the Managing Board in 2004. As the sole managing director, he built up INIT Innovations in Transportation Inc. in the United States, back in 1999. This company has since evolved into a major pillar of the group. More recently, with a deal for Atlanta, USA, init managed to seal the largest contract in the history of the company with a volume of over USD 100 million. Transport for London (TfL) also recently signed a deal of similar size for the renewal of its fleet management system. In addition, Jürgen Greschner has been the Deputy Chairman of the Managing Board of init SE since 2015.

“Under the leadership of Jürgen Greschner, our international breakthrough succeeded, and we now have a foothold in 14 countries spread across four continents. We owe him our enormous gratitude and are happy that he has decided to stay on the team at init,” says Chairman of the Supervisory Board, Hans‑Joachim Rühlig, about the services of Dr. Jürgen Greschner.

“Since 2004, the init group has been able to raise its revenue from EUR 30 million to over EUR 200 million. It was with great pleasure that I had the privilege to help shape, together with my colleagues on the Managing Board, the successful strategy of init over the last two decades. For private reasons, I have come to the decision to take things a little slower. Nevertheless, I would be happy to continue to offer my knowledge and experience to the company to support its continued growth from a new position. I would like to take this opportunity to very warmly thank the Supervisory Board, the Managing Board, the employees, customers and business partners for the successes we have notched up together”, adds Dr. Jürgen Greschner.

His successor, Martin Timmann can also look back on many successful years in the field of mobility solutions. As the spokesman of the management of HanseCom Public Transport Ticketing Solutions GmbH (since 2013) he has been responsible for the expansion strategy that led to HanseCom more than tripling its revenues since being acquired by init. Nowadays HanseCom is the supplier of a ticketing back-office system for nearly all major German-language public transport operators, such as Berlin, Hamburg and Vienna. With over 2 million mobile users, the company is also a partner to more than 60 public transport operators in Germany, Austria and Switzerland, making it the leading provider of ticketing via mobile devices.

“Thanks to his qualifications and more than 20-years of experience in international sales of public transport software products, Martin Timmann is a logical successor to the position of Chief Sales Officer. Since HanseCom became part of the init group, it has realized numerous smart ticketing projects. We are happy that many more projects are being added around the world, for we see enormous growth potential in this promising field, especially in North America,” says the founder and Chairman of the Managing Board, Dr. Gottfried Greschner.