- New legal form fully reflects Zalando’s international approach
- No impact on day-to-day operations
- Zalando strengthens Supervisory Board: Former Deutsche Telekom CEO Kai-Uwe Ricke and three employee representatives appointed
Berlin, May 28, 2014. Zalando, Europe’s leading online platform for shoes and fashion, has transformed its legal form into a Societas Europaea (SE), thereby strengthening and professionalizing its Corporate Governance structure. Following the entry into the commercial register today the change in legal form has become effective and the company will operate as Zalando SE going forward. The new legal form has no impact on the company’s day-to-day operations. Its headquarters will remain in Berlin.
“Zalando is a European company. We operate in 15 European markets and generate over half of our revenues outside of Germany, while our team is becoming more and more international. Now, we have a legal form that fits a modern company and fully reflects our international approach,” said Rubin Ritter, Member of Zalando’s Management Board.
Zalando SE continues to be governed by a two-tier board structure comprising the Management Board and the Supervisory Board. Kai-Uwe Ricke (52), former CEO of Deutsche Telekom and current Supervisory Board member of United Internet, will be appointed to the Zalando SE Supervisory Board. Martin Weber, who has been on the Zalando Supervisory Board since its inception in December 2013 and has been a temporary member since then, will retire simultaneously. Martin is General Partner at Holtzbrinck Ventures, an early investor in Zalando.
Following the changes, the Zalando Supervisory Board will be comprised of Chairperson Cristina Stenbeck, Deputy Chairperson Lorenzo Grabau, Lothar Lanz, Anders Holch Povlsen, Kai-Uwe Ricke and Alexander Samwer.
Cristina Stenbeck, Chairperson of the Zalando Supervisory Board, said: “I am very pleased to welcome Kai-Uwe Ricke to the Zalando supervisory board whose extensive experience will greatly benefit the company. I would like to thank Martin Weber from Holtzbrinck Ventures for his outstanding work and commitment to the development of Zalando as a long standing shareholder and member of the Supervisory Board since its inception.”
As part of the transformation into an SE, three employee representatives will be appointed to the Supervisory Board: Christine de Wendel (country team France), Christoph Stark (logistics) and Benjamin Krümel (fashion buying), who will add a strong internal perspective to the Supervisory Board.
Zalando is Europe’s leading online retailer for shoes and fashion. Working with over 1,500 international brands, Zalando offers an extensive selection of products for women, men and children, ranging from popular high street brands to much sought-after designer labels. Exclusive accessories and sportswear add to Zalando’s wide range of products. A combination of unique services – free delivery and returns, a free service helpline and an extended day returns policy – make online shopping at Zalando a convenient and secure online experience. The company was founded by Robert Gentz and David Schneider in 2008 and its headquarters are located in Berlin. Following its success in Germany, Zalando launched in Austria in 2009 and the Netherlands and France followed in 2010. In 2011 Zalando expanded into Italy, the UK and Switzerland. Since 2012 Zalando has also been available in Sweden, Belgium, Spain, Denmark, Finland, Poland, and Norway. Deliveries were extended to Luxembourg in 2013.