Wolfgang Kirsch becomes CEO of Allterco Europe

The former managing director of the MediaMarktSaturn Group is to drive expansion in Europe / Gregor Bieler, former head of Microsoft Germany and now CEO EMEA at Aparavi, is supporting as Chairman of the new Advisory Board

Munich, 22 November 2021 - Wolfgang Kirsch, a recognised expert in consumer electronics and retail in Europe, is joining smart home provider Allterco JSCo (ticker A4L/ISIN: BG1100003166). With immediate effect, he will be responsible as CEO for the newly founded Allterco Europe GmbH, which will be based in Munich.

In his new position, Kirsch will develop the expansion of the European business through sales and marketing in the respective countries. The starting position for Allterco is particularly promising in the German-speaking countries: the company already generates well over a significant part of its revenue here. In particular, the flagship product line Shelly has developed into a real love brand and already has a community of more than 35,000 members in Germany.

Allterco brings in experienced industry experts for expansion
Wolfgang Kirsch held a senior position at MediaMarktSaturn Retail Group until 2018, most recently as Chief Operating Officer. After driving expansion into numerous countries, he was most recently responsible for the development of own brands, the digitalisation of the retail business and the linking of online and offline channels across 16 countries, among other things. After leaving MediaMarktSaturn, Kirsch supported international corporations and medium-sized companies in their digital transformation and the development of direct-to-consumer businesses through his own consulting company, as an external consultant at McKinsey & Company and on behalf of private equity companies. In parallel, he has contributed his experience to start-ups such as the retail-as-a-service provider Vaund and the sustainable coffee producer Vitaboni.

"The smart home is ready for widespread use and Shelly is technically ideally placed to become a leading player in this field," said Wolfgang Kirsch. "Together with retailers across Europe, we want to ensure that customers understand and use the possibilities of new technologies so that the continent becomes a pioneer in digital tools for the home."

Gregor Bieler is also new on board at Allterco: as Chairman of the Advisory Board, he will support the company, but also Wolfgang Kirsch in particular, in the development and implementation of the expansion strategy of Allterco Europe GmbH. Bieler has been CEO EMEA of the data mastery provider Aparavi since summer 2021, and was previously responsible for the partner business as General Manager at Microsoft.

"The potential in the smart home sector is huge and we want to make Allterco the name par excellence in Europe in the process," says Gregor Bieler. "With the right strategy, we can not only reach those who already know and love Allterco, but also convince those who have not yet or hardly dealt with the topic. With Wolfgang we have an experienced expert for this and as Chairman of the Advisory Board I will contribute in the best possible way to achieve our ambitious goals."

More information at allterco.com

About Allterco
Allterco JSCo is a technology holding company that stands for innovation through the development, manufacture, and distribution of high-quality IoT products. End users and their needs are always at the heart of development. Allterco was founded in Bulgaria and works with a team of young, talented developers who are dedicated to producing competitive and user-friendly products. The Group consists of 4 subsidiary companies and has offices in Bulgaria, China and USA and is about to open an office in Germany. Allterco's products have already conquered over 100 markets. Allterco JSCo has been listed on the Bulgarian Stock Exchange since December 2016 and on the Frankfurt Stock Exchange as of November 2021 where its shares are traded under GSIN A2DGX9, ISIN BG1100003166, ticker A4L.

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