World Footwear

Companies

Zalando: co-CEO Rubin Ritter resigns

Dec 14, 2020 Germany
Zalando: co-CEO Rubin Ritter resigns
Rubin Ritter, co-CEO of the Germany-based online fashion company since 2010, will step down next year, leaving the leadership of the company on the hands of co-CEO's Robert Gentz and David Schneider. Ritter says he aims to back his wife’s career
The reasons behind Ritter's decision are of personal nature as the executive said he wants "to dedicate more time to his growing family and prioritize his wife's professional ambitions for years to come". In a statement issued, he added that "in the months that remain, I will ensure that we will continue to make rapid progress in implementing our strategy".

Ritter's contract was scheduled to be in place until November 2023, but Zalando confirmed he would resign at the next annual general meeting, which usually takes place in May. This decision could cost Rubin Ritter as much as 93 million euros (113 million US dollars) in options from a five-year incentive program set up in 2018, according to Bloomberg calculations show.

Zalando's President, Cristina Stenbeck, said that although the Supervisory Board regretted Ritter's decision, she respected his motivation and appreciated the transparency that gave the company enough time to organize the management transition.

About Zalando

Founded in Berlin by Gentz and Schneider in 2008, Zalando has grown rapidly to become Europe's largest online fashion retailer, serving 35 million active customers in 17 countries.

Image credits: www.retailgazette.co.uk

Related Events

  • May
    14
    May 14-May 17, 2024 | Leipzig, Germany

    Otworld

  • Jun
    3
    Jun 3-Jun 5, 2024 | Munich, Germany

    ISPO Munich

  • Jul
    4
    Jul 4-Jul 5, 2024 | Berlin, Germany

    Seek

  • Jul
    27
    Jul 27-Jul 29, 2024 | Düsseldorf, Germany

    Neonyt Düsseldorf

Related Organizations

  • ISC - International Shoe Competence Center Pirmasen

    ISC - International Shoe Competence Center Pirmasen

    Germany
  • IVO - International Association for Orthopaedic Shoe Technicians

    IVO - International Association for Orthopaedic Shoe Technicians

    Germany
  • BTE - Trade Association of Textile, Shoes and Leathergoods

    BTE - Trade Association of Textile, Shoes and Leathergoods

    Germany
  • Messe Düsseldorf GmbH

    Messe Düsseldorf GmbH

    Germany