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Stefan Riedel strengthens adesso AG Executive Board

The Supervisory Board of adesso AG has appointed Stefan Riedel to the company’s Executive Board effective as at 1 January 2020, raising the number of members to five. The strengthening of the management team comes against the backdrop of accelerated growth and further internationalisation of the adesso Group. Riedel arrives from IBM Deutschland, where he was responsible for the group’s insurance operations across Europe as Vice President Insurance Europe.

In his new position on the Executive Board, Riedel (52) will take responsibility for the core segment insurance in place of the CEO, Michael Kenfenheuer (61), who was previously responsible for the core adesso segments Banking and Insurance. Riedel will also be responsible for the subsidiary adesso insurance solutions GmbH, where adesso insurance product business is bundled.

Prof. Dr Volker Gruhn, Chairman of the Supervisory Board of adesso AG and the co-founder of the company, is delighted by the appointment: “Stefan Riedel is a successful and acclaimed manager with outstanding technological expertise and a wealth of experience in the industry. As a pioneering visionary in the field, Stefan understands IT in the insurance industry as a holistic system and knows how to maximise its benefits to the company.”

Stefan Riedel will strengthen the Executive Board of adesso AG as of January 2020. (Copyright: private)

As the head of the Insurance department, Riedel, a qualified computer scientist, will be taking charge of the adesso core industry that generates the highest sales. Thanks to a number of years as the chief representative for insurance business at IBM Deutschland GmbH – first as the Vice President in German-speaking markets (DACH) and subsequently as Vice President Europe – the Cologne resident was top of the list of potential candidates for CEO Michael Kenfenheuer.

Kenfenheuer, who has been a member of the adesso Executive Board since 2000, was responsible for establishing the insurance business of the IT service provider and is placing his carefully maintained network in capable hands: “Stefan Riedel has an outstanding reputation in the insurance industry as an engaging advisor and industry expert. This is the ideal appointment for adesso in such a strategically important area of the business.”

The new adesso Executive Board member is excited about trading his position at a global corporation such as IBM, where he has worked since completing his traineeship, for adesso with its currently 4,000 members of staff: “I am hugely looking forward to contributing my expertise, my ecosystem and the wide variety of experiences at IBM in such an innovative, young and successful team and continuing adesso AG’s growth story.”

This fits in perfectly with adesso’s desire to focus on Riedel’s area of speciality – artificial intelligence – next year, too. Riedel sees himself as an innovator in this area who was one of the first people at IBM to look into how artificial intelligence can be deployed in the insurance industry. AI is one of Riedel’s favour-ite subjects, alongside open source development and cloud technology, areas where his previous employer has set the industry standard in the past.

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