Feb 09, 2023 3:08 PM
/ Key word(s): Personnel/Strategic Company Decision
Replacement of the management board of fashionette AG and start of discussions on a possible cooperation, including the evaluation of a business combination, with The Platform Group
Dusseldorf, 9 February 2023. The supervisory board of fashionette AG (ISIN DE000A2QEFA1) (“Company” and together with its consolidated subsidiaries, “fashionette”) has today mutually agreed with the current members of the Company’s management board, Georg Hesse and Thomas Buhl, on their resignation as management board members with effect from the end of 28 February 2023. Both will be available as advisors to the Company for a transitional period to ensure a smooth transition of the Company’s management to the new management board.
The current management board members are resigning to allow fashionette to realign its strategy under new leadership. In this context, the Company’s supervisory board today unanimously appointed Dr. Dominik Benner as new member and chairman of the Company’s management board, effective 1 March 2023. Dr. Dominik Benner is managing shareholder and CEO of The Platform Group GmbH & Co. KG, Wiesbaden (“The Platform Group”), which became the Company’s new major shareholder in December 2022, and has 15 years of experience in the online platform business.
Stefan Schütze, chairman of the Company’s supervisory board, comments:
“I would like to express my sincere thanks to Georg Hesse and Thomas Buhl for their impressive commitment to the Company. They have successfully developed fashionette into a leading data-driven e-commerce group for premium and luxury fashion accessories. I therefore welcome it that they will support the Company as advisors capacity for a transitional period. In addition, we warmly welcome Dr. Dominik Benner to fashionette and look forward to working with him in the future.”
“I am looking forward to the new task and thank the current management board members for the upcoming joint, well-planned handover within the board. Our participation in fashionette is long-term and strategic and are, therefore, now evaluating a more intensive cooperation.”, says Dr. Dominik Benner.
The strategic development of fashionette around a platform strategy offers the opportunity of stronger and more profitable growth.
To the Company’s current knowledge, there are no plans to squeeze out minority shareholders of the Company or to delist the Company from the stock exchange.
To avoid potential conflicts of interest, the Company’s supervisory board will represent the Company in the discussions with The Platform Group.
The Platform Group is a group of online platforms to which 4,000 partners in 16 different industries are connected. From 2020 to 2022, over 16 majority shareholdings were acquired in the online sector. According to its own figures, The Platform Group generated a Gross Merchandise Volume (GMV) of approximately EUR 250 million in 2022 with 420 employees and is sustainably profitable.
About fashionette AG:
File: Passing the baton at fashionette AG: Dr. Dominik Benner, Georg Hesse, Thomas Buhl (fltr) - Photographer: Peter Bajer
09.02.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1556365|
|End of News||EQS News Service|
1556365 09.02.2023 CET/CEST