euro adhoc: ESCADA AG
Board of Directors (Appointments and Changes) / Succession secured at ESCADA

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Aschheim/Munich, September 19th, 2005 - Wolfgang Ley (67), Founder and CEO of ESCADA AG, on September 19th 2005 proposed to the company’s Advisory Board to nominate Frank Rheinboldt (39) as a new Board member and to appoint him as the company’s new CEO. Wolfgang Ley will leave the Board of Management on January 31st, 2006 at his own request but will continue to support the Board as consultant in the newly created function as "Founder and Creative Chairman ESCADA Group". Mr. Ley will act as ambassador for the brand ESCADA and take over the role of chairman for the Creative Committee where he will be instrumental for the further development and public image of the brand.

The Supervisory Board’s appointment of Frank Rheinboldt as a member of the Board of Management and CEO of ESCADA AG will become effective on February 1st 2006. Frank Rheinboldt has been with the ESCADA Group for 15 years and is presently CEO of the Münster-based PRIMERA AG. He has been instrumental in managing the turn-around of PRIMERA and successfully integrated Laurèl into the PRIMERA-Group. The long-standing and careful preparation of this succession ensures continuity for the ongoing development of the company.

Date of effectiveness of above conditions: 19.09.2005.

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ots Originaltext: ESCADA AG
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Further inquiry note:
Viona Brandt
Tel.: +49 (0)89 9944 1336

Branche: Clothing
ISIN:      DE0005692107
WKN:        569210
Index:    SDAX, Prime Standard, CDAX, Classic All Share, Prime All
Börsen:  Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Frankfurter Wertpapierbörse / official dealing
              Bayerische Börse / official dealing

Weitere Meldungen: ESCADA AG

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