In their Verden meeting that took place yesterday, May 13, the board of the Hannoveraner Verband e.V., decided to terminate the employment contract of Dr. Werner Schade extraordinarily without notice. Chairman Hans-Henning von der Decken explained in this regard that in the opinion of the entire board, this decision was unavoidable due to several breaches of duty that occurred in the recent past. The board has decided not to disclose any further information.

The Society has been in upheaval for some time now due to an 'Iran deal' that went seriously wrong. A few years ago, an Iranian investor approached the Verband and several breeders were persuaded to sell their horses. However, the buyer defaulted on a payment of €170,000 and the Verband was forced to settle this amount with the breeders – an affair that caused turmoil within the board. They are now pursuing a lawsuit against the Iranian client.

At a special meeting just under two months ago, the board determined that in his double function as CEO as well as breeding director of the largest German studbook, Dr. Schade – who took over from Dr. Jochen Wilkens as head of the Verband in May 2006 – wielded too much power and he was subsequently demoted. While he was removed as CEO, he retained the position of breeding director. At that time, it was rumoured that board chairman Hans-Henning von der Decken's wingman, Mr. Bürmann was a likely candidate to succeed Schade as CEO.