Arcandor AG
KarstadtQuelle AG: Change to the Management Board
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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KarstadtQuelle AG: Change to the Management Board
Wolfgang Urban, 59, is to stand down as Chairman of the Management Board of
KarstadtQuelle AG for reasons of health. The new Chairman will be Dr. Christoph
Achenbach, 46.
Essen, May 17, 2004. The Supervisory Board of KarstadtQuelle AG at its meeting
today acceded to Wolfgang Urban’s wish to terminate his activity as Chairman of
the Management Board of KarstadtQuelle AG as of May 31, 2004. Urban is standing
down for reasons of health after five years on the Management Board.
The Supervisory Board commended Urban’s entrepreneurial achievements in
transforming the group into a modern retail and service group. He has performed
his duties with extraordinary personal commitment and great creativity.
At the same time the Supervisory Board appointed Dr. Christoph Achenbach, member
of the Management Board of KarstadtQuelle AG and Management Board Chairman of
the two mail-order companies Neckermann Versand AG and Quelle AG, Chairman of
the Management Board of KarstadtQuelle AG with effect from June 1, 2004.
It is planned for Achenbach to give up his posts as Management Board Chairman of
the two mail order companies in June and assume the Chairmanship of their
respective Supervisory Boards. Arwed Fischer, 51, member of the Management Board
of the two mail-order companies, is to be appointed to succeed Achenbach as
Chairman of the Management Board and thus become a member of the Management
Board of KarstadtQuelle AG.
The weak economic situation in the domestic retail market has led to decreases
in sales in the last few years and so to a substantial decline in earnings which
outweighed the positive effects of the restructuring measures. The “Challenge”
optimisation programme launched under Urban’s leadership will be consistently
continued by Achenbach and his Management Board colleagues Peter Gerard, 57,
Prof. Dr. Helmut Merkel, 55, and Arwed Fischer.
Essen, May 17, 2004
The Management Board
end of ad-hoc-announcement (c)DGAP 17.05.2004
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WKN: 627500; ISIN: DE0006275001; Index: MDAX
Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, Hannover, München und Stuttgart
171501 Mai 04
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