Change in the Management Board

At its meeting today, the Supervisory Board of Wolford AG appointed Silvia Azzali (48), Global Sales & Merchandising Director of Wolford AG, to serve as a new Member of the Management Board. Chief Executive Officer (CEO) Axel Dreher resigned from his Management Board position today on the most amicable terms with the Supervisory Board and will leave the company effective October 31, 2019.

Silvia Azzali was named Chief Commercial Officer (CCO). Accordingly, she will be responsible for the areas of Sales & Merchandising, Marketing and Design as of November 1, 2019. Andrew Thorndike (COO) will continue to have management responsibility for the other business areas of the company, as announced on September 20, 2019.

The Management Board will consist of two members until the vacant position of CEO is successfully filled.