Changes at Douglas as Kreke joins board and new CEO search begins

By Andrew MCDOUGALL

- Last updated on GMT

Changes at Douglas as Kreke joins board and new CEO search begins

Related tags Corporate governance Chief executive officer

German perfume retailer Douglas has begun its search for a new CEO after announcing that the current position holder, Dr Henning Kreke, plans to join the Supervisory Board and serve as chairman. 

Kreke has been serving as company CEO for almost 15 years, having taken over from his father in 2001, and will continue to be closely associated with the company in his role as representative of the owner family.

The Supervisory Board says it has already initiated an internal and external search for a suitable successor to serve as operational manager of the company.

“Over the past 15 years we, along with our highly motivated management team and our committed employees, have been able to achieve excellent results. I am very pleased to be able to continue to support the company on its future course in my new role as Chairman,”​ says Kreke.

Achievements

Since September 2014, Kreke has been acting as Chief Executive Officer of the Douglas perfumeries on an interim basis. , and has successfully led the Group’s companies through a period in which the internet, online-retailing and digitalisation have revolutionized retailing.

The primary challenge was to develop suitable individual strategies for each of the companies of the former conglomerate, and keep those companies on course for growth.

After the successful delisting of Douglas Holding in 2013, Henning, together with private equity partners, created the framework to actively transform the Douglas Group from a diversified retail holding into the European market leader in the beauty segment.

Transformation

The transformation of the retail group has now been successfully completed, and the company expects it will continue to decisively pursue growth going forward.

“Now that this process of transformation is complete, and after serving as the company’s CEO for nearly 15 years, it is the right time for me to make a personal change,”​ says Kreke.

Dr Daniel Pindur, current Chairman of the Supervisory Board of Douglas Holding, and Managing Director at CVC Capital Partners, Douglas’ majority shareholder, adds: “Henning Kreke has unique expertise in the retail sector, and is an important role model for the management team and the employees of Douglas.”

“We are pleased to be able to continue our partnership with him as Chairman of the Supervisory Board.”

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