Marcel Avram has quit
In a deal that was described as mutually beneficial to both parties, his departure was eased by DEAG chief Peter Schwenkow waiving a two-year non-compete clause in return for Avram guaranteeing that future co-operations between the two will yield what’s being described as “a two-digit million Euro business volume” over the same period.
“I have worked successfully with DEAG for almost five years,” Avram said in a press release. “My current contract has come to an end. This gives me the opportunity to spend more time at home in Israel and Switzerland and to concentrate there on new national and international challenges.
“DEAG was a good partner. I would like to express my appreciation for the trustworthy co-operation and look forward to working on joint projects in the future too.”
Schwenkow played down the loss of Avram, light-heartedly pointing out that the extended arrangement suits both parties because “we didn’t want to send him to the beach for the next two years.”
In return, he said DEAG also benefits as the company is guaranteed a profit on its joint activities with Avram, without taking any risks.
Of the other key players in the company’s international operation, Schwenkow said, “André Béchir [
“We don’t expect any deterioration for the future; neither does the capital market as the share price is going up.”
Avram’s departure, which took effect October 1, will see him withdraw from DEAG’s Swiss-based Entertainment One and the German-based
— John Gammon