DGAP-News: Adler Modemärkte AG

Carmine Petraglia Appointed New Executive Board Member for Sales and E-Commerce of Adler Modemärkte AG

Haibach (near Aschaffenburg), 14 March 2018: At its meeting yesterday, the Supervisory Board of Adler Modemärkte AG appointed Mr Carmine Petraglia to serve as a new Executive Board member of the Company and Chief Commercial Officer with effect from 1 June 2018. His term will expire on 31 December 2022. Mr Petraglia will be responsible in particular for sales and e-commerce. Adler Modemärkte AG's Executive Board will therefore again consist of three members beginning in June 2018: Thomas Freude as CEO, Karsten Odemann as CFO and Mr Petraglia.

"By appointing Carmine Petraglia to its Executive Board, Adler Modemärkte AG has gained a sales and e-commerce expert with outstanding qualifications. He will assist the Company in systematically implementing its new "ADLER 2020 Strategy" and will leverage his expertise to help bring ADLER back on track to sustainable and profitable growth", said Massimiliano Monti, Chairman of Adler Modemärkte AG's Supervisory Board.

Prior to his appointment to ADLER's Executive Board, the 45-year-old Business Administration graduate held a variety of leadership positions in sales and service at Deutsche Telekom subsidiaries for over 15 years. Most recently, he served as a member of the executive board at Deutsche Telekom Service (DTS), where he was the operations manager for Field Service, which employs approximately 8,200 staff and some 2,000 contractors. Prior to holding that position, Mr Petraglia was responsible for the expansion of Telekom shops inter alia.

"Thanks to its unique market position and brand recognition, Adler Modemärkte AG has excellent future prospects. I am very much looking forward to my new responsibilities and am highly optimistic that together with my colleagues on the Executive Board, Thomas Freude and Karsten Odemann, we can steer the Company towards a profitable future", said Adler Modemärkte AG's new Chief Commercial Officer Carmine Petraglia.
 

About Adler Modemärkte AG:
Adler Modemärkte AG, headquartered in Haibach near Aschaffenburg, Germany, is one of Germany's largest and most important textile retailers. According to the preliminary figures, the Group generated revenue of EUR 525.8 million and EBITDA of approximately EUR 31 million (adjusted approx. EUR 25 million) in 2017. As at 31 December 2017, ADLER employed a workforce of around 3,800 and currently operates 182 stores, 155 of which are located in Germany, 22 in Austria, three in Luxembourg, two in Switzerland, plus an online shop. The Company focuses on large-space concepts offering in excess of 1,400 m² of retail space. With its many own brands and select external brands, ADLER offers a highly diverse product range. Thanks to nearly 70 years of tradition and strong customer loyalty, ADLER considers itself to be the market leader within its target group of affluent customers aged 55 and over.

For more information: www.adlermode-unternehmen.com; www.adlermode.com