A great FT "Big Read" on Wirecard after reviewing emails, internal chats, minutes of supervisory board meetings, and other documents, as well as hundreds of hours of witness hearings by Germany’s parliamentary inquiry commission into the scandal.
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Wirecard: a record of deception, disarray and mismanagement
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In 2014, after Wirecard lost German carrier Air Berlin as a client, a senior employee explained to Marsalek that poor client support, inefficient IT and incorrect payment settlements were the reasons for Air Berlin’s move. “The requirements of such a big client were simply not dealt with properly [by us]”, the employee pointed out, warning other large clients may jump ship “if we do not manage to set up efficient support and development processes.” Marsalek’s response: “Phew . . . Not cool!”
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