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

  • Jul
    29
    Jul 29-Jul 31, 2023 | Offenbach, Germany

    ILM

  • Aug
    27
    Aug 27-Aug 29, 2023 | Düsseldorf, Germany

    Shoes Dusseldorf

  • Oct
    24
    Oct 24-Oct 27, 2023 | Düsseldorf, Germany

    A+A

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

    Otworld

Related Organizations

  • HDS/L - Federal Association of German Footwear and Leather Goods Industry

    HDS/L - Federal Association of German Footwear and Leather Goods Industry

    Germany
  • Leather Institute German Tanners' School Reutlingen

    Leather Institute German Tanners' School Reutlingen

    Germany
  • ISC - International Shoe Competence Centre

    ISC - International Shoe Competence Centre

    Germany
  • German Shoe Museum Hauenstein

    German Shoe Museum Hauenstein

    Germany