The European Business Reliance Centre (EBRC), a wholly-owned subsidiary of the Post Luxembourg group, announced the news on 20 May. Reding after 22 years at the helm of the company will go into retirement, a press release said. , current CEO of Microsoft partner Elgon, will take over the position if the move is approved by financial regulator CSSF.

Genesca is a French national who in the past was managing director and FSP director of Logica in 2012 (now CGI) and managing director of SD Worx. He joined Elgon--which is also wholly-owned by the Post Group--in spring of 2021.

“ has accompanied and actively participated in the development of the grand duchy's digital ecosystem, both as head of EBRC and as a representative of various bodies specialising in the digital sector,” said Post director general Claude Strasser. “Yves Reding can retire with peace of mind, leaving his successor with a company that has established itself on the international scene”.

Genesca’s successor as Elgon CEO is currently still unknown.