A new course of direction:
Daniel von Stockar and Till Spillmann on SoftwareOne’s next chapter

In this interview, founding shareholder and Chairman Daniel von Stockar and independent Board member Till Spillmann – nominated as Chairman of the combined company – discuss the past year at SoftwareOne, from Board renewal and operational challenges to the planned acquisition of Crayon.

Daniel, together with your fellow founding partners, you successfully convinced a majority of represented shareholders to vote for a new Board of Directors at the 2024 Annual General Meeting. What prompted this move?
René Gilli, Beat Curti and I had observed a series of concerning developments in the company. SoftwareOne, once known for its agility and entrepreneurial spirit, had become increasingly top-heavy and centralised. Key employees left the company, and a gap developed between the Board, management and the business. We felt a fundamental change was needed to steer the company back onto the right course.

Has the situation improved since then?
The good news is, we’ve identified the issues and taken decisive action. Our new CEO Raphael Erb and his team are implementing the necessary measures to restore growth, reduce costs and resolve the go-to-market execution issues... but it takes time to fully work through this. The new independent directors also needed to thoroughly assess the situation before charting the path forward.

Now that we are entering a new phase and are also proposing the two Crayon founders for election as members, we want to send a clear signal of the Board’s independence. I am delighted that we have an excellent candidate for independent Chairman in Till, who has earned trust both internally and externally in this eventful year. I myself remain fully committed as a member of the Board and large shareholder.

Daniel von Stockar, Chairman of the Board of Directors

Till, how turbulent was your first year as a member of SoftwareOne’s Board of Directors?
It was certainly interesting – never a dull moment! As you know, Andrea Sieber, Jörg Riboni and I joined in April 2024, and we took our responsibility to contribute constructively and act in the company’s best interest very seriously. Our first priority was to gain an independent view of the situation, and it became clear that action was needed. That said, underneath the current challenges, what I see at SoftwareOne is a fantastic company: a truly motivated, talented team driving things forward, a unique global platform, and further untapped potential.

Until late in 2024, a key priority was a going-private transaction. Daniel, is going private still your goal?
My goal has always been the successful development of SoftwareOne. In 2023, a fair offer for shareholders was on the table, which the former Board did not want. Looking at the current share price, that’s of course quite sobering. But with the Crayon transaction, we now have a completely new situation.

Is Crayon just a fallback solution?
Quite the opposite! I’ve long been convinced that SoftwareOne and Crayon are an excellent fit. The previous Board did not pursue that route any further. Now, a new opportunity has come up to combine – one we intend to seize.

As Chair of the Board’s Transaction Committee, Till, what’s your view on these projects?
In principle, the two topics are independent. As announced previously, we’re not ruling out considering private ownership at a later stage, if it is in the best interest of the company. But we are now fully focusing our efforts on the completion and successful integration of the Crayon transaction. It’s a great opportunity! SoftwareOne and Crayon are highly complementary, with significant synergy potential providing substantial value for shareholders.

For SoftwareOne, the overarching priorities are clear: completing the transaction with Crayon, followed by a successful integration and delivery of the synergies and – with or without the transaction – returning to and accelerating profitable growth.

Till Spillmann, Member of the Board of Directors

The Board has nominated Till as the new Chairman of the combined company. Daniel, you only just returned to the Chairman role, why pass it on so soon?
I had indeed stepped down as Chairman in 2023 and my intention was to continue as a regular Board member. But after we replaced the former Board, it was only natural that I took up the chairmanship again. Now that we’re entering a new phase and are also proposing the two Crayon founders for election as members, we want to send a clear signal of the Board’s independence. I am delighted that we have an excellent candidate for independent Chairman in Till, who has earned trust both internally and externally in this eventful year. I myself remain fully committed as a member of the Board and large shareholder.

Till, what will your priorities be as Chairman of the combined company?
It would be an honour to lead the Board, taking over from Daniel. For SoftwareOne, the overarching priorities are clear: completing the transaction with Crayon, followed by a successful integration and delivery of the synergies and – with or without the transaction – returning to an accelerating profitable growth. As a Board, we aim to ensure the best possible conditions for that.