Grenke AG is a German manufacturer-independent

leasing A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...

company which is specialized in office communication-products, including printers, copiers, telephone systems, servers and laptop computers. Besides its leasing-activities, Grenke makes a notable portion of its revenue with factoring services. By acquiring the German private bank Hesse Newman in 2009, the company obtained a

banking license In most legal jurisdictions, a financial institution is required to obtain a banking licence before it is legally permitted to carry on a banking business. Besides other requirements, such a business is not permitted to contain in its name words ...

. The most important markets for the company are Germany, France and Italy.Grenke
"Reports and presentations (Grenke AG Group Annual Report 2019)"
accessed on September 13, 2020.

History

The company was founded by Wolfgang Grenke in 1978. Internationalization was driven forward, especially since the 2000s. Since June 2019, Grenke is included in the MDAX index on the

Frankfurt Stock Exchange The Frankfurt Stock Exchange (, former German name: , ''FWB'') is the world's 3rd oldest and 12th largest stock exchange by market capitalization. It has operations from 8:00 am to 10:00 pm ( German time). Organisation Located in Frankfurt, ...

. In early 2009, the company acquired a banking license through the purchase of the former private bank Hesse Newman, which was then renamed Grenke Bank. On May 3, 2016, the general meeting of Grenkeleasing AG decided to change its name to Grenke AG. This step was justified by the increasing importance of the areas of factoring and banking. At the end of February 2018, company founder Grenke resigned from the management board after his term of office had expired. His previous deputy, Antje Leminsky, took over as CEO on March 1. Wolfgang Grenke was elected to the supervisory board at the company's annual general meeting on May 3, 2018. Since August 1, 2021, the former capital markets director of Bayern LB Michael Bücker was CEO of Grenke AG. Wolfgang Grenke left the supervisory board on July 29, 2021. Since February 16, 2023 the former CFO Dr Sebastian Hirsch has been CEO of the Grenke AG. On June 24, 2019, the Grenke share rose from the

SDAX The SDAX (German abbreviation for ''Small-Cap-deutsche Aktienindex'') is a stock market index composed of 70 small and medium-sized companies in Germany. These so-called 'Small cap company, small caps' rank directly below the MDAX (mid-cap) shar ...

to the MDAX. Due to the slump in the share price as a result of allegations of accounting fraud, Grenke shares were relegated to the SDAX on December 21, 2020. In 2020, Grenke entered the US-market by establishing a franchising company headquartered in Phoenix, Arizona.it-times.de
"Grenke: Neugeschäft des IT-Leasing- und Factoring Spezialisten eingebrochen"
accessed on September 14, 2020.

References

Leasing companies Financial services companies of Germany Companies listed on the Frankfurt Stock Exchange Multinational companies headquartered in Germany Companies based in Baden-Württemberg Baden-Baden Companies in the MDAX {{Germany-company-stub