euro adhoc: ESCADA AG
Board of Directors (Appointments and Changes)
ESCADA
Supervisory Board decides to replace CEO of luxury Group
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information
30.05.2007
Munich, May 30, 2007. At its extraordinary meeting today, the Supervisory Board of ESCADA AG unanimously decided to replace the CEO of the luxury Group. Given their differing views on the company´s future strategy and business policy the CEO of ESCADA AG, Frank Rheinboldt (40), and the Supervisory Board decided on a separation by mutual consent, effective as of May 31, 2007. The Supervisory Board wishes to express its gratitude and recognizes the long-serving and successful commitment of Mr. Rheinboldt to the ESCADA Group.
The Supervisory Board of ESCADA AG has today appointed Jean-Marc Loubier (51) as new CEO as of June 1, 2007. Loubier has been a member of ESCADA´s Supervisory Board and chairman of its Strategy Committee since November 2006. He has been a key executive of LVMH for 16 years. From 1990 to 2000 he worked as Executive Vice President at Louis Vuitton. From 2000 to early 2006 he was President and CEO of Celine.
end of announcement euro adhoc 30.05.2007 13:29:31
Further inquiry note:
Viona Brandt
Tel.: +49 (0)89 9944 1336
E-Mail: viona.brandt@de.escada.com
Branche: Clothing
ISIN: DE0005692107
WKN: 569210
Index: SDAX, CDAX, Classic All Share, Prime All Share
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / official dealing