Sunday, December 06, 2020
Withdrawal from the board
Zalando boss quits his wife’s career
Zalando’s co-boss Ritter’s contract actually runs until 2023. But for his wife he is now surprisingly giving up his position on the board. After the general meeting in the coming year, Ritter wants to devote more time to his growing family.
With a view to his wife’s career, the co-boss of the online fashion retailer Zalando, Rubin Ritter, is giving up his board post. “After more than eleven unique years in which Zalando was my priority, I want to give my life a new direction,” said Ritter surprisingly.
Until the general meeting next year, the date of which has not yet been determined, Ritter intends to continue to lead Europe’s industry leader alongside the two company founders Robert Gentz and David Schneider. After that he wanted to devote more time to his growing family, said Ritter, who was born in 1982: “My wife and I agree that in the years to come your profession should have priority.”
Ritter has been co-head of the Berlin-based company since 2010. He played a central role in the 2014 IPO and in the strategic direction of the company, which was founded twelve years ago and is now active in 17 countries, has more than 35 million customers and around 14,000 employees. In addition, the former McKinsey consultant also acted as chief financial officer for many years.
Zalando is considered to have benefited from the Corona crisis and has won numerous new customers who now prefer to buy their clothes online rather than go to stores. At the beginning of October, the MDax group, which is traded as a promising candidate for the leading index Dax, raised its annual forecast for the second time. CFO David Schröder has already announced that he intends to accelerate growth in the coming year. In 2019, Zalando had sales of around 6.5 billion euros.
There was always criticism that there was no woman on the board. The chairwoman of the supervisory board, Cristina Stenbeck, announced that the supervisory board would work with Ritter on the early termination of his contract, which ran until November 2023. Stenbeck said: “The Supervisory Board regrets Rubin’s decision, but we have the utmost respect for his personal motives.”