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Management change at Charles Vögele Group
13
Sep '11
CEO André Maeder, who has led Charles Vögele Group since February 2009, is leaving the company with immediate effect because of differences of opinion about the implementation of the corporate strategy. The Board of Directors regrets this development and would like to thank André Maeder for the hard work he has done to refocus Charles Vögele Group in very difficult markets.

“André Maeder has dedicated himself to the ongoing successful development of our company. We wish him much success in his future career,” says Alain Caparros, current Chairman of the Board of Directors of Charles Vögele Holding AG. Departing CEO André Maeder made the following comments: “Charles Vögele has great potential in its markets.

"We have initiated the turnaround, modernized all areas of the company, adjusted our market image to the current Zeitgeist and in so doing have greatly strengthened the brand. Even though I am leaving Charles Vögele, I continue to wish the company well.” The Board of Directors is sticking to the new corporate strategy introduced in 2010.

André Maeder's successor is Frank Beeck, currently Chief Sales Officer at Charles Vögele. In order to guarantee the best possible support during the transition phase, Hans Ziegler will take over as Chairman of the Board of Directors of Charles Vögele Holding AG, and will work with the Group Management for half of each week. Alain Caparros, who cannot take on this additional workload because of his other professional commitments, will remain a member of Charles Vögele Holding AG's Board of Directors. The new Vice Chairman will be Jan C. Berger.

Frank Beeck, who has worked at Charles Vögele since July 2010 as Chief Sales Officer, brings great experience as a fashion and retail expert to his new role in charge of the company. The Board of Directors believes that Frank Beeck is the right person to successfully implement the corporate strategy.

The Charles Vögele Group is one of Europe's leading vertical fashion retailers. It offers the latest fashions at great prices to people in the prime of their lives who want to feel good. With attractively presented goods, combined with friendly, knowledgeable advice, it creates a relaxed and enjoyable shopping experience.

Charles Vögele has 826 outlets in nine countries: Switzerland, Germany, the Netherlands, Belgium, Austria, Slovenia, Poland, Hungary and the Czech Republic. In 2010 the Group and its approximately 8000 employees generated gross sales of more than CHF 1.4 billion.

Charles Vögele Group


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