Douglas hiring Alvarez&Marsal

All,

The new CFO, Bob Rajan, works in A&M’s Munich office. He is likely coming in to spear-head the restructuring of the German operation. As per our question on the call and our mail yesterday, we remain very sceptical that this will not produce significant additional cost. 

Press release:
Douglas: Douglas appoints Bobby Rajan Interim Group CFO
Douglas appoints Bobby Rajan Interim Group CFO 
Düsseldorf, 17 May 2019. Bobby Rajan appointed as Interim Group Chief Financial Officer. As per press release dated 26 March 2019 (available on our website), Matthias Born will take over the role of Chief Financial Officer of Douglas GmbH from Michael Rauch. In order to ensure a seamless transition, the Supervisory Board of Douglas GmbH appointed Bobby Rajan as Interim Chief Financial Officer with immediate effect (i.e. from 17 May 2019) until 5 August 2019, when Matthias Born will assume his role as previously communicated.

ABOUT DOUGLAS: 

Douglas is the leading premium beauty retailer in the European beauty industry with about 2,400 stores and fast-growing online shops in 24 European countries. In the financial year 2017/18, the company generated sales of 3.3 billion euros. Every day, around 20,000 dedicated beauty advisors strive to make their customers more beautiful and thus happier. Douglas has a portfolio of some 50,000 high-quality products of more than 650 brands in the areas of perfumery, decorative cosmetics and skincare as well as food supplements and accessories. With around 40 million Beauty Card holders, Douglas has one of the largest customer loyalty programs in Europe. Providing excellent consultation and a range of unique services, Douglas is one of the leading companies in the beauty market – both online and in stores.

More information is available at http://corporate.douglas.de/.

Wolfgang