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PAYBACK: Grassmann leaves the company

Munich – After three successful years at the helm of Payback GmbH, Burkhard Grassmann has decided to leave the company.

The spokesperson for the management team and the supervisory board have both consented to his departure. Grassmann stepped down from the management team on 31 December 2010 to take on new challenges.  
In the ten years before he joined Payback in 2008, Burkhard Grassmann held senior roles at Deutsche Telekom. The shareholders of Payback's holding company, Loyalty Partner, would like to thank him for his commitment and wish him every success in the future.