Fanatec’s woes continue with the surprise news of CEO Thomas Jackermeier's dismissal. Jackermeier's departure is just the latest in a series of events that demonstrate the decline of the once-great hardware manufacturer.
Fallen from grace
2024 has not been a good year for Fanatec so far. Supply issues at the end of 2023 caused concern for many players, with orders delayed and hardware and software problems affecting those whose orders did arrive.
These issues have continued into 2024, with players still reporting orders taking a long time to arrive. Once they do arrive, however, many have to then be sent back because they don’t work correctly.
It seems that Fanatec is on a a downhill spiral. But the fall from grace doesn’t end there.
Fanatec dismisses CEO
In a move that has shocked the sim racing world, Fanatec has dismissed its CEO, Thomas Jackermeier. "Today, the supervisory board of Endor AG has decided on the dismissal of CEO Thomas Jackermeier, effective at the end of March 30, 2024," Fanatec's statement reads.
As the founder of Fanatec in 1997, Jackermeier poured his passion for racing into the company, turning it into the leader for sim racing hardware.
However, the recent issues have become too much for Fanatec. The 2023 supply issues spilling into 2024 have caused financial issues for the company, with the breaking point now arriving.
What’s even more concerning for fans of Fanatec is the reason for Jackermeier’s departure. In an announcement from Endor AG, the parent company of Fanatec, the decision was made in order to fulfil a "key condition set by the lending banks for the extension of the standstill agreement until June 30, 2024."
This suggests that the company is standing on shaky financial ground, with additional support required to continue operations. With a condition of that being the removal of the CEO, it’s not looking good for Fanatec.
Players are also now concerned, with some cancelling orders out of fear they’ll never receive their bought items. Others are questioning ordering from Fanatec in the first place, meaning future revenue for the company could also be about to take a hit.
Are you worried about Fanatec’s future? Would you continue to buy their products given the current turmoil? Let us know in the comments below.
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